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Risk concerns the expected value of one or more results of one or more future events. Technically,...

Risk concerns the expected value of one or more results of one or more future events. Technically, the value of those results may be positive or negative. However, general usage tends focus only on potential harm that may arise from a future event, which may accrue either from incurring a cost ("downside risk") or by failing to attain some benefit ("upside risk"). The term risk may be traced back to classical Greek rizikon (Greek ριζα, riza), meaning root, later used in Latin for cliff. The term is used in Homer’s Rhapsody M of Odyssey "Sirens, Scylla, Charybdee and the bulls of Helios (Sun)" Odysseus tried to save himself from Charybdee at the cliffs of Scylla, where his ship was destroyed by heavy seas generated by Zeus as a punishment for his crew killing before the bulls of Helios (the god of the sun), by grapping the roots of a wild fig tree. For the sociologist Niklas Luhmann the term 'risk' is a neologism which appeared with the transition from traditional to modern society. "In the Middle Ages the term riscium was used in highly specific contexts, above all sea trade and its ensuing legal problems of loss and damage." In the vernacular languages of the 16th century the