61风险与收益 4 Uncertainty exists whenever one does not know for sure what will occur in the future ◆ Risk is uncertainty that“ matters” because it affects people's welfare ◆当结果可以分为输、赢时,人们常常把输的可 能性看成风险,而不是赢的可能性。 风险是可能性?是损失? 收益( return) 看作“回报”时,意义宽泛,来源于“效用”的增 加 通常情况下,指投资的回报率,用货币量体现。 2021/2/22 北#管理礼2021/2/22 5 6.1 风险与收益 Uncertainty exists whenever one does not know for sure what will occur in the future. Risk is uncertainty that “matters” because it affects people’s welfare. 当结果可以分为输、赢时,人们常常把输的可 能性看成风险,而不是赢的可能性。 – 风险是可能性?是损失? 收益(return) – 看作“回报”时,意义宽泛,来源于“效用”的增 加。 – 通常情况下,指投资的回报率,用货币量体现