Dealing with Risk and Uncertainty

Do you know the difference between risk and uncertainty? Or that uncertainty is a core feature of human societies, compared with the natural world that is just risky? And that uncertainty is what makes economics different from physics?

As part of an AXA Outreach initiative, Prof. Massimo Marinacci published a free, high-quality and easy to read 30 min ebook. Illustrated by animated videos, it digests the top-notch research behind the latest developments of risk science, and aims at providing non-mathematicians with a condensed but thorough summary of the science of decision-making modeling.

Drawing on real-life examples, such as the Belgian election outcomes or the 2008 financial crisis, Prof. Marinacci e-book offers the conceptual tools to understand crucial but complex aspects of decision-making, as well as a few pointers on how to make the most of living in an uncertain world.

Prof. Marinacci is the holder of the AXA Chair in Risk at the Bocconi University since 2010 and is one of the leaders in decision theory – an area of economics at the intersection between psychology and statistics that studies economic choices under uncertainty. In recent years, he has published with his team fascinating scientific articles around the mathematics and statistics behind decision models, developing relevant knowledge to create more accurate ways to model uncertainty, and to train future leaders to react in risky or uncertain environments.

Download his ebook (available in epub format)