Formally logical approach to the relationship between risk and uncertainty concepts

Savaley V.V.1, Ivasenko A.N.1
1 Дальневосточный федеральный университет, Russia

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Journal paper

Creative Economy (РИНЦ, ВАК)
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Volume 12, Number 11 (November 2018)

Citation:

Savaley, V. V., & Ivasenko, A. N. (2018). Formally logical approach to the relationship between risk and uncertainty concepts. Creative Economy, 12(11), 1825-1832. https://doi.org/10.18334/ce.12.11.39526

Indexed in Russian Science Citation Index: https://elibrary.ru/item.asp?id=36552446
Cited: 3 by 24.01.2023

Abstract:
In the article, the diversity of perspectives of the problem of interrelating of the concepts of risks and uncertainties through the formal-logical approach is explored. In order to research these points of view for the problem of correspondence of the concepts, the following gradation was introduced: authentication combination of the concepts, the separation of the concepts and the complementarity of the concepts. The usage of the formal-logical approach gives us an opportunity to imagine the interaction of concepts as a logical expression, where the result is a point of view of a part of the researchers. For the visibility of the process, such operators as conjunction, strict disjunction, and implication were used. Every perspective has certain argumentation, but the authors of the article support the opinion that the concepts of risks and uncertainties are compliment, which means that they are in implication. In case of usage of another ratio of these concepts, certain complexities of identification, evaluation and accounting of the risks and uncertainties may appear. On the basis of the studied points of views, the authors have proposed an identification algorithm of the correspondence of the concepts of risks and uncertainties, which can be used for research purposes.

Keywords: uncertainty, risk, implication, conjunction, strict disjunction, Formal logic, circles of Euler

JEL-classification: D81, O32, В40

Highlights:

  • Разнообразность точек зрения на соотношение понятий рисков и неопределённостей создает некоторые проблемы, как для начинающих, так и для опытных исследователей.
  • Точки зрения исследователей на проблему соотношения понятий делятся на три группы: отождествление понятий, разделение понятий и взаимное дополнение понятий.
  • Соотношения понятий можно описать логическими операторами: импликация, конъюнкция, строгая дизъюнкция.
  • В зависимости от того, какой точки зрения придерживается исследователь, управление и ход исследования будет проходить по-разному.

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Agareva O.Yu. (2011). Matematicheskaya logika i teoriya algoritmov [Mathematical logic and theory of algorithms] M.: MATI. (in Russian).
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Chetyrkin E.M. (2015). Finansovye riski [Financial risk] M.: Izd. dom «Delo». (in Russian).
Frank H. Knight. (1921). The Meaning of Risk and Uncertainty Boston: Houghton Mifflin.
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Sinyuk A.I. (2008). Krugi Eylera: Otnosheniya mezhdu ponyatiyami [The Euler circles: the relationship between the concepts] Almetyevsk: Akademiya nauk sotsialnyh tekhnologiy i mestnogo samoupravleniya. (in Russian).
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