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Development of quantitative methods based on stochastic analysis is an important achievement of modern financial mathematics. This book offers an introduction to the ideas, methods, and techniques that have transformed risk management into a quantitative science and led to unified methods for analyzing risk in the insurance and finance arenas.
'Embracing risk' offers an original approach to risk, insurance and responsibility, the provocative and wide-ranging essays demonstrate that risk has moved well beyond its origins in the insurance trade to become a central organizing principle of social and cultural life.