The Logic of Risk
Dr. Pasquale Cirillo
Week 1: The Course and What is Risk?
01/05/17 12:00
Hi there,
welcome to our first class! Nice to see you.
In this first video I tell you more about the course and about its content.
The first module of the course consists of 6 weeks, and it deals with the philosophical aspects of risk. The second module, starting in July, will deal with the mathematical modeling of risk and it builds upon the first one.
In both modules I will try to minimize the amount of knowledge I will take for granted, and I will make a large use of examples to simplify things and make them - hopefully - clearer.
When needed, I will refer to external references to allow you to learn or refresh your knowledge of some given topic. But you will know it in advance.
In this first week we will try to answer important questions, like: what is risk? Is risk something objective or rather subjective?
Watch the video and try to give yourself a definition of risk. I will give you some hints, can you elaborate on them?
You have some time to think. Feel free to leave comments here below.
Did you know that the concept of risk is a very modern concept?
Did you know that the first rigorous treatment of risk appeared in 1494, when Luca Pacioli, an Italian Franciscan friar, tried to solve the “Problem of Points” (later also studied by Pascal, Fermat and others)?
Did you know that the appearance of risk and probability in mathematics and science corresponds to the rise of individualism (in the philosophical sense)?
The study of risk was an important move for humanity to understand that our world is not necessarily predetermined, that luck and fortune are very human concepts, that life is not always just true or false, that there is a universe in between…
The new video will appear here below together with some written comments.
See you soon.
Pasquale.
PS: Yes, we will also deal with finance and financial risks. Just be patient, our being “philosophical” will be rather useful later on, to better understand tail risks and large unexpected losses.
welcome to our first class! Nice to see you.
In this first video I tell you more about the course and about its content.
The first module of the course consists of 6 weeks, and it deals with the philosophical aspects of risk. The second module, starting in July, will deal with the mathematical modeling of risk and it builds upon the first one.
In both modules I will try to minimize the amount of knowledge I will take for granted, and I will make a large use of examples to simplify things and make them - hopefully - clearer.
When needed, I will refer to external references to allow you to learn or refresh your knowledge of some given topic. But you will know it in advance.
In this first week we will try to answer important questions, like: what is risk? Is risk something objective or rather subjective?
Watch the video and try to give yourself a definition of risk. I will give you some hints, can you elaborate on them?
You have some time to think. Feel free to leave comments here below.
Did you know that the concept of risk is a very modern concept?
Did you know that the first rigorous treatment of risk appeared in 1494, when Luca Pacioli, an Italian Franciscan friar, tried to solve the “Problem of Points” (later also studied by Pascal, Fermat and others)?
Did you know that the appearance of risk and probability in mathematics and science corresponds to the rise of individualism (in the philosophical sense)?
The study of risk was an important move for humanity to understand that our world is not necessarily predetermined, that luck and fortune are very human concepts, that life is not always just true or false, that there is a universe in between…
The new video will appear here below together with some written comments.
See you soon.
Pasquale.
PS: Yes, we will also deal with finance and financial risks. Just be patient, our being “philosophical” will be rather useful later on, to better understand tail risks and large unexpected losses.
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A probabilist who loves extremes.
Risk theory, risk management and financial mathematics at Delft University of Technology, in the Applied Probability Group.
Coordinator of the Financial Engineering Specialization.
L
X
I
FAQS
When will the course start?
May 1, 2017.
Starting from May 1, I will post several materials, usually twice per week (on Monday and on Friday).
How long will the course last?
My idea is to offer 2 or 3 modules, depending on the response from the audience.
Each module will develop over 6 weeks.
First Module: May-June 2017
Second Module: July-August 2017
Third Module: TBA.
What is the average study load?
About 2 hours per week on average (videos, readings, etc.)
How much does the course cost?
Nothing. Completely free.
Is this an official MOOC on platforms like edX, Coursera and so on?
No. This is a course I am offering on my personal websites: www.pasqualecirillo.eu and www.thelogicofrisk.com. It is not linked to any external platform or institution. I have been working on this course in my free time.
Will I get a certificate?
Maybe.
As I will better explain in a video, you could have the possibility of receiving a “certificate of attendance”, if you correctly complete some assignments.
However, in any case, this certificate WILL NOT be linked to Delft University of Technology, edX or other academic institutions.
And if I only audit the course, without working on the assignments?
In that case you will not get any certificate, but hopefully you will learn something interesting.
More questions?
Let me know, and I will answer here.
Risk theory, risk management and financial mathematics at Delft University of Technology, in the Applied Probability Group.
Coordinator of the Financial Engineering Specialization.
L
X
I
FAQS
When will the course start?
May 1, 2017.
Starting from May 1, I will post several materials, usually twice per week (on Monday and on Friday).
How long will the course last?
My idea is to offer 2 or 3 modules, depending on the response from the audience.
Each module will develop over 6 weeks.
First Module: May-June 2017
Second Module: July-August 2017
Third Module: TBA.
What is the average study load?
About 2 hours per week on average (videos, readings, etc.)
How much does the course cost?
Nothing. Completely free.
Is this an official MOOC on platforms like edX, Coursera and so on?
No. This is a course I am offering on my personal websites: www.pasqualecirillo.eu and www.thelogicofrisk.com. It is not linked to any external platform or institution. I have been working on this course in my free time.
Will I get a certificate?
Maybe.
As I will better explain in a video, you could have the possibility of receiving a “certificate of attendance”, if you correctly complete some assignments.
However, in any case, this certificate WILL NOT be linked to Delft University of Technology, edX or other academic institutions.
And if I only audit the course, without working on the assignments?
In that case you will not get any certificate, but hopefully you will learn something interesting.
More questions?
Let me know, and I will answer here.