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State of Knowledge in Insurance Economics: Uncertainly Levels and Response to Uncertainty

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  • Tãnãsescu Paul

    (A.S.E.Bucharest)

Abstract

”While analyzing the current economic crisis, which we can consider the first ever global crisis that started with banking problems, we are asking if this crisis was strictly a financial one or a crisis due to the phenomenon called globalization. What caused the global financial crisis was the lack of information” as is sayed Phd Cristina Gradea in the article Effects of globalization on companies.(1) Uncertainty is doubt about the abilityto predict future results. Uncertainty arises when an individual perceives risk. Today, the concept of risk seems to synonymous with the one of activity. Although ubiquitous in business, and not only, risk is often relatively difficult to detect or predict.(2)

Suggested Citation

  • Tãnãsescu Paul, 2012. "State of Knowledge in Insurance Economics: Uncertainly Levels and Response to Uncertainty," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 1382-1384, Decembre.
    • Handle: RePEc:ovi:oviste:v:xii:y:2012:i:2:p:1382-1384
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    More about this item

    Keywords

    crisis; globalization; uncertantly; insurance; risk.;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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