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WORLD VIEW: An aspect of a scientific theory that includes fundamental, and unverifiable axioms, beliefs, and values about how the world works. On example of an unverifiable world view axiom is belief in the existence of supreme, omnipotent, omniscience being. Political philosophies, which are essential to economic theories, are intertwined with alternative world views.
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RISK The quantitative probability of different future outcomes occurring. The assignment of probabilities can be subjective (based on a "feeling") or objective (based on historical data). Risk is related to the concept of uncertainty, which is simply not knowing what the future holds. People have three alternative preferences when confronting risk -- risk aversion, risk neutrality, and risk loving. Risk aversion is key to the provision of insurance.
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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time searching for a specialty store looking to buy either a genuine down-filled pillow or one of those "hang in there" kitty cat posters. Be on the lookout for poorly written technical manuals.
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This isn't me! What am I?
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Post WWI induced hyperinflation in German in the early 1900s raised prices by 726 million times from 1918 to 1923.
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"You are never given a dream without also being given the power to make it true." -- Richard Bach, Author
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LOCH
London Options Clearing House
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