ИСТИНА

Risk is present whenever the outcome is uncertain, whether favorable or unfavorable. Methods for transferring or distributing risk were practiced as long ago as the 3rd millennium BC, but risk theory (or actuarial science) emerged only in the 17th century. It has an interesting history consisting of 4 periods (deterministic, stochastic, financial, modern). The applied probability research domains such as insurance and finance, inventory and dams, queueing theory, reliability, population dynamics and some others can be considered as special cases of decision making under uncertainty (or risk management). The modern period is characterized by investigation of complex systems, application of intricate mathematical methods and emergence of new research directions.