A CONCEPTUAL PAPER ON RISK

In the present global scenario the concept of risk has became a focal point for those who are thinking and acting in markets. The market may be Financial, Commodity, and Currency etc. The market crises and volatility in the past four decades conformed that the centrality and importance of risk and its analysis. The present paper explains the concept of risk and the two dimensions of risk like subjective risk and probabilistic risk and explains the concept of uncertainty.