What is risk?
Exposure
Peril
Hazard
Moral Hazard
Indifference
Risk Management
the square root of the variance
Risk Reduction
Retention
Transfer
Expect the unexpected
Maximin
Maximax
Wealth
Increase
>
Personal Distribution of Income
3
Durable Goods
Nondurable Goods
Services
Plant
Firm
Industry
Sole Proprietorship
Partnership
Corporation
Sole Proprietorship
Principal-Agent Problem
Stockholders
Monopoly
Transfer Payments
Market Intervention
Taxation
Externality
Private goods
Public goods
Unemployment
Inflation
Consumer
0
Frequency
Infrastructure
Law of Large Numbers
Law of Large Numbers
Incomplete
Standard deviation
Economy
Conditional
Wealth
Supply