Elements in the Game of Risk

The risk game is a strategy. The strategy is "action plan aimed at achieving specific goals". As Kunal's game shows, Joules has all the strategies and dominates other strategies. Her strategy was not to occupy all territories at once, but to push the territory slowly to the territory. Her focus is once to occupy the continent of the world. That's the way she won. This strategy is absolutely beneficial as she took over the majority of the world.

There are mainly two types of risk. It is market risk and operational risk. Market risk includes risks related to your trading strategy. Do you need to hedge unnecessary risks? Is your place too big? Is your risk for a particular element too high? Are you thinking of the worst case? What if a black swan event like World War III happened? In addition to market risk management, operational risk should also be considered. Counter risk, broker bankruptcy and hacking are extremely problematic because the system crashes, Internet connection is lost, execution algorithms become poor (because re-estimates can not be handled, execution gets bad, transactions fail) It is a real problem.

Possibility (or probability) is an important element of risk. For risky risks, uncertainty is necessary. If it is determined that the risk factor is 100%, this is not dangerous but a problem. If the risk factor is impossible, it is not a problem. For example, the possibility of data leakage due to system change flaws is a risk to the customer account management system. However, if this risk is certain, this is a question that needs to be managed. This is nearly impossible and is not registered as a risk if the risk under consideration is to simultaneously meteor influence the two geographically separated data centers.

Danger is a fundamental element for sacrificing. There are always risk factors when spending time on systems such as human relationships and companies. If you do not want that risk factor you will find ways to benefit from these systems without risk (as people often do). Let's think about it: When you risk, you sacrifice it unconditionally. What you are talking about is "I will do this even if it is not rewarded." Of course, you want it to be rewarded. Even if that is possible, you still do this. This is an important part of risk. This is because if this unconditional sacrifice is not part of the equation, this is a problem. It is a positive transaction. There is no danger. Without unconditional sacrifice, this will be a purchase. Without risk, both parties can guarantee the value and you know exactly what you got. No sacrifice