1 edition of **Possibility Theory and the Risk** found in the catalog.

- 72 Want to read
- 17 Currently reading

Published
**2012**
by Springer Berlin Heidelberg in Berlin, Heidelberg
.

Written in English

- Probability Theory and Stochastic Processes,
- Finance,
- Distribution (Probability theory),
- Financial Economics,
- Engineering,
- Artificial Intelligence (incl. Robotics),
- Computational intelligence,
- Artificial intelligence

**Edition Notes**

Statement | by Irina Georgescu |

Series | Studies in Fuzziness and Soft Computing -- 274 |

Contributions | SpringerLink (Online service) |

The Physical Object | |
---|---|

Format | [electronic resource] / |

ID Numbers | |

Open Library | OL27081937M |

ISBN 10 | 9783642247408 |

This book offers a comprehensive guide to the modelling of operational risk using possibility theory. It provides a set of methods for measuring operational risks under a certain degree of vagueness and impreciseness, as encountered in real-life data. It shows how possibility theory and. in measure and integration theory and in probability theory, but advanced topics like stochastic processes were not required as a prerequisite. As a result, the book starts from ﬁrst principles and develops the basic theory of risk processes in a systematic manner and with proofs given in great detail. It is hoped that the reader reaching.

Let’s have a look. First up is The Drunkard’s Walk by Leonard Mlodinow, which looks at how the mathematical laws of randomness affect our lives.. This is a general introduction to the history of probability and the way it comes into everyday life. It intersperses the historical development with modern applications, and looks at finance, sport, gambling, lotteries and coincidences. A Treatise on Probability was published by John Maynard Keynes while at Cambridge University in The Treatise attacked the classical theory of probability and proposed a "logical-relationist" theory instead. In a review, Bertrand Russell, the co-author of Principia Mathematica, called it "undoubtedly the most important work on probability that has appeared for a very long time," and Books: The Economic Consequences of the .

Lady Luck. The theory of probability. Dover, (original ). Woolfson, Michael M. Everyday Probability and Statistics: Health, elections, gambling and war. World Scientific, Nahin, Paul J. Will You Be Alive 10 Years from Now?: And Numerous Other Curious Questions in Probability. Princeton University Press, Frey, Bruce. Probability Theory and various distribution types are important to understanding finance. Risk management, for instance, depends on tools such .

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“The book contains a detailed theoretical presentation of these models and, in general, of some fundamental topics of risk theory within the framework of possibility theory. The book concludes with a list of important open problems which can definitely deserve the attention of a reader interested in working in the topic.

its contents have a much wider field of applicability and will be definitely Cited by: “The book contains a detailed theoretical presentation of these models and, in general, of some fundamental topics of risk theory within the framework of possibility theory.

The book concludes with a list of important open problems which can definitely deserve the attention of a reader interested in working in the topic. its contents have a much wider field of applicability and will be definitely.

The book deals with some of the fundamental issues of risk assessment in grid computing environments. The book describes the development of a hybrid probabilistic and possibilistic.

Zadeh's possibility theory [11] offers another way to model portfolio problems: The risky asset is a possibility distribution (more often a fuzzy number), and the formulation and the study of.

Quantitative Modeling of Operational Risk in Finance and Banking Using Possibility Theory (Studies in Fuzziness and Soft Computing Book ) - Kindle edition by Arindam Chaudhuri, Soumya K.

Ghosh. Download it once and read it on your Kindle device, PC, phones or tablets. Use features like bookmarks, note taking and highlighting while reading Quantitative Modeling of Operational Risk in Finance Cited by: 3. This book offers a comprehensive guide to the modelling of operational risk using possibility theory.

It provides a set of methods for measuring operational risks under a certain degree of. Possibility Theory and the Risk book Possibility theory is a mathematical theory for dealing with certain types of uncertainty and is an alternative to probability sor Lotfi Zadeh first introduced possibility theory in as an extension of his theory of fuzzy sets and fuzzy logic.

Didier Dubois and Henri Prade further contributed to its development. Earlier in the s, economist G. Shackle proposed the min.

background in measure theory can skip Sections, andwhich were previously part of the appendix. Probability Spaces Here and throughout the book, terms being deﬁned are set in boldface. We begin with the most basic quantity. A probability space is a triple (Ω,F,P) where Ω is a set of “outcomes,” F is a set of “events.

common ground of risk management and decision theory. In the last paragraph passive traits influencing risk taking will be discussed. Risk management Risk is the possibility that an event will occur and adversely affect the achievement of objectives.

Risk management is the process that attempts to manage the uncertaintyFile Size: KB. Webster’s Dictionary (): Risk is ’the possibility of loss, injury, disadvantage, or destruction’ In more specialized literature ’risk’ is also used as a measure of bad outcome. We can measure the chance (probability) of the bad (negative) outcome, its negativ-ity (severity), or a combination of Size: KB.

Our corporate risk management training programs are specifically designed to promote risk-based decision making and integrating risk management into business processes. Risk managers all over the world call us in to help sell idea of integrating risk analysis into decision making and using quantitative risk analysis techniques.

Bankers and finance professionals in the fields of investments, derivatives, and risk management should also find the book useful in bringing probability and finance together. The book contains applications of both discrete time theory and continuous time mathematics, and is extensive in scope.

Distribution theory, conditional probability, and. An introduction to risk assessment that utilizes key theory and state-of-the-art applications. With its balanced coverage of theory and applications along with standards and regulations, Risk Assessment: Theory, Methods, and Applications serves as a comprehensive introduction to the topic.

The book serves as a practical guide to current risk analysis and risk assessment, emphasizing the possibility Author: Marvin Rausand. This book offers a comprehensive guide to the modelling of operational risk using possibility theory.

It provides a set of methods for measuring operational risks under a certain degree of vagueness and impreciseness, as encountered in real-life data. This book examines fundamental issues of risk assessment in grid computing environments.

The authors describe the development of a hybrid probabilistic and possibilistic model. articles [, ], Zadeh acknowledged the connection between possibility theory, belief functions and upper/lower probabilities, and proposed their extensions to fuzzy events and fuzzy information granules.

3 Basic Notions of Possibility Theory. The basic building blocks of possibility theory were rst described in the authors’ book [62],File Size: KB. One of the sections in Kahneman’s book is about choices — how people make decisions when faced with risk.

Many of us are familiar with the concept of Author: Ameet Ranadive. Risk is here defined as the expected consequences associated with a given activity. Considering an ac-tivity with only one event with potential consequences risk R is thus the probability that this event will occur P multiplied with the consequences given the event occurs C i.e.

R =P⋅C (1) For an activity with n events the risk is defined by. Probability Theory books Enhance your knowledge on probability theory by reading the free books in this category. These eBooks will give you examples of probability problems and formulas. Please note that prior knowledge of calculus 1 and 2 is recommended.

Against the Gods is a perfect title for this book. It was thought during the Roman era only Gods could predict out comes however, with the development of probability theory even mortals are starting to predict future events.4/5.

Introduction to Probability Models, Eleventh Edition is the latest version of Sheldon Ross's classic bestseller, used extensively by professionals and as the primary text for a first undergraduate course in applied probability.

The book introduces the reader to elementary probability theory and stochastic processes, and shows how probability. The argument that “probability theory is at the heart of risk and uncertainty management” sounds logical and appropriate in layman terms.

However, an empirical analysis of the risk and uncertainty management shows that probability theory has limited role in both concepts.

There is a clear difference between risk and uncertainty whereby risk being product of.The objective of Risk Analysis in Theory and Practice is to present this analytical framework and to illustrate how it can be used in the investigation of economic decisions under risk.

In a sense, the economics of risk is a difficult subject: it involves understanding human decisions in the absence of perfect information.