Uncertainty: A Conceptual Review

Abstract

Risk is not good in its essence, however, what human intelligence does in uncertain scenarios is what makes this phenomenon an opportunity for companies and the economy. Insurance companies, for example, manage schemes, elements and classes of risk that allow you to be your business, being one of the most profitable businesses. Undoubtedly, culturally and by human nature, we reject uncertainty because there are few that we do not know, but in reality the development of economic rights allows us to understand it in a promising way. This article is an innovative look at understanding risk and its elements. Understanding the interplay between environmental events at the macro and micro levels is part of understanding that risk is an innate feature of all markets, but especially all walks of life.

JEL CODE: D81, G32, G52