IDEAS home Printed from https://ideas.repec.org/a/but/manage/v5y2007i1p14-26.html
   My bibliography  Save this article

Economy, probability and risk

Author

Listed:
  • Elena Druica
  • Viorel Cornescu

Abstract

The science of probabilities has earned a special place because it tried through its concepts to build a bridge between theory and experimenting.As a formal notion which by definition does not lead to polemic, probability, nevertheless, meets a series of difficulties of interpretation whenever the probability must be applied to certain particular situations.Usually, the economic literature brings into discussion two interpretations of the concept of probability:the objective interpretation often found under the name of frequency or statistical interpretation and the subjective or personal interpretation. Surprisingly, the third appproach is excluded:the logical interpretation.The purpose of the present paper is to study some aspects of the subjective and logical interpretation of the probability, as well as the implications in the economics.

Suggested Citation

  • Elena Druica & Viorel Cornescu, 2007. "Economy, probability and risk," Manager Journal, Faculty of Business and Administration, University of Bucharest, vol. 5(1), pages 14-26, May.
    • Handle: RePEc:but:manage:v:5:y:2007:i:1:p:14-26
    as

    Download full text from publisher

    File URL: http://manager.faa.ro/download/508_pag%2014%20-%2026%20-%20Viorel%20Cornescu,%20Elena%20Druica%20-%20Economy,%20probability%20and%20risk.pdf
    Download Restriction: no
    File URL: http://manager.faa.ro/en/article/Economy-probability-and-risk~508.html
    Download Restriction: no
    ---><---

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:but:manage:v:5:y:2007:i:1:p:14-26. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Cosmin Catalin Olteanu (email available below). General contact details of provider: https://edirc.repec.org/data/faaubro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.