In this paper, we review the concept of risk, its evolution in history and the big changes we experienced in the last 50 years. We conclude that peak risks are growing and the need for risk management is becoming a societal demand. Two phenomena are identified to render risks more complex,...

Nobody would question the trade-off between product quality and price. However, negotiations between buyers and sellers tend to circle primarily around pricing, because it is a simple quantitative figure compared to product quality, which is much harder to comprehend. Every seller of good...