ABSTRACT
The concept of risk permeates all aspects of society from the realm of personal finance all the way to the environment. To paraphrase and modernize Hacking, people are faced with an “avalanche of printed, broadcasted, downloaded, and tweeted numbers”. Risk is a concept that is prevalent in many disciplines and the term “risk” has been used in many distinct yet connected ways. Utility theory and technical risk analysis are not the only approaches to risk. Technical risk analysis, which is a domain of philosophy, statistics, and economics, has been extended to risk governance which involves actors’ understanding and handling of risk. Deficit theory also does not take into account that risk situations are “constructed by different histories, narratives, and experiences”. Besides prevalence of risk in different aspects of human activity, there is a more profound way that risk plays role in the society.
