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There was no theory of risk until 1952.
According to one theory of risk, humans didn't evolve to be safe, risk-minimizing citizens.
What good is a theory of risk management if it applies to one tree instead of the forest?
The analysis is anchored in the cultural theory of risk perception.
Among Arrow's major publications are Social Choice and Individual Values (1951), Essays in the Theory of Risk Bearing (1971), and The Limits of Organization (1974).
He talks in some length about the "Theory of Risk" and the "Capital Asset Pricing Model," and about the "Leverage Cycle," which is relevant to our crises.
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This result is consistent with the theory of risk-return trade-off.
The last column of Panel A shows the result for theory of risk-return trade-off.
This result is in line with the theory of risk-return trade-off and is consistent with previous results of Yusof and Majid (2007).
After public meetings, I often walk away wondering why "reformers" first pushed the crackpot theory of risking a legal Battle of Verdun by using numbers produced by a statistical black box, that may or may not be linked to a specific teacher's effectiveness, in order to fire that teacher.
The uncontrollable, potentially fatal nature of this threat fits into psychological theories of risk toleration developed by authors such as Paul Slovic, providing an insight into why people apparently overestimate the risk of cycling.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com