Robert F. Engle Quotes
There are some risks we choose to take because the benefits from taking them exceed the possible costs. Optimal behavior takes risks that are worthwhile. This is the central paradigm of finance: we must take risks to achieve rewards, but not all risks are equally rewarded.
Citations
Engle, Robert F. "Risk and Volatility: Econometric Models and Financial Practice." The American Economic Review, vol. 94, no. 3, American Economic Association, June 2004, p. 405.
Related Quotes
Robert Fry Engle III is an American statistician and the winner of the 2003 Nobel Memorial Prize in Economic Sciences, sharing the award with Clive Granger, "for methods of analyzing economic time series with time-varying volatility (ARCH)".