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The impact of opportunity cost on personal and professional life
Evaluating the benefits and drawbacks of different choices
Understanding the concept of opportunity cost
Limitations of Risk Analysis
Risk is a probabilistic measure and so can never tell you for sure what your precise risk exposure is at a given time, only what the distribution of possible losses are likely to be if and when they occur.
There are also no standard methods for calculating and analyzing risk.
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Risk Analysis
Risk analysis is the process of assessing the likelihood of an adverse event occurring within the corporate, government, or environmental sector.
Risk analysis is the study of the underlying uncertainty of a given course of action and refers to the uncertainty of forec...
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Types of Risk Analysis
- Quantitative Risk Analysis. Under quantitative risk analysis, a risk model is built using simulation or deterministic statistics to assign numerical values to risk. Inputs that are mostly assumptions and random variables are fed into a risk model.
- Qualitative...
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Sabotaging behaviors
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Skepticism rejects the false hope for easy answers
The Roman Sextus Empiricus further developed the idea of Skepticism. He thought everything we claim to know was open to doubt and added that there could be no possible way to resolve this challenge. For Sextus, both opinions are equally v...
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