What are your opinions on uncertainty and risk
             Words are flexible, and their meaning is not always fixed. Scientists can adapt the meanings of words to their needs, as long as everybody understands what they are talking about, in their branch of research. But as people face up with the need to use one or another word out of scientific exposures they find it different meanings and at the same time come up to the confusion of the right use of this word and it complete reflection of the definite mind.
             The words 'uncertainty¡ and 'risk¡ lead us to think about it same meaning, however there is a great distinction unawareness of which may result in conceptual problems and inconsistencies. The simplest and most obvious difference in these terms is that risk is measurable randomness with knowable probabilities when uncertainty tends to be unmeasurable randomness with unknowable probabilities. Some probability distribution can be used to describe the risk and it can be managed and perhaps hedged at a time when uncertainty is compared with animal spirits having very strong information asymmetry and being perceived by an object only.
             Let us take a closer look at each term and will try to gain much clarity in it.
             Risk is a concept with a long pedigree in a variety of disciplines, but in virtually all technical discussions, risk is represented as having three components:
             „h one or more potential stressors (sometimes called hazards);
             „h a probability that these stressors will occur (often called exposure); and
             „h the likely adverse effect that will result if the stressors do occur.
             It is when the decision involves consequences for the decision maker we faces a situation of risk. A traditional way of understanding risk is to calculate how much a certain event varies over time. The less it varies the minor the risk. Uncertainty has a quite different nature. It does not have any continual tendency but is no...