Risk is one of the most important terms in the modern economy and economics, as it is connected with every undertaking of man and it is strictly connected with decisions, both the economic ones and those that are connected with life. Risk, as a term and phenomenon occurs not only in the economic contexts, but it is present in every aspect of our life: professional and private. While Risk itself has been around since the dawn of humanity, the first references to this term – the process of analyzing risk, and its development occurred about 5000 years B.C. It was mainly connected with health. The first attempt to define of the term risk is dated approximately 3200 B.C., when a group of people in The Tigris and Euphrates Valley called Asipu advised people who were undertaking risk, made uncertain and difficult decisions – then the first occurrences of risk assessment started. Also the Ancient Greeks and Romans noticed the problem of uncertainty of expected results of their activities. It was mainly expressed by connections that occur between natural conditions and the health of the citizens of the two nations. In the IV century B.C. Hippocrates noticed the influence of external factors on human health, and Vitrouvious in the first century B.C. spoke about the toxicity of lead, whereas Agricola in the XVI century described the influence of work in coal mines on the health of miners.
However, the above notices of risk did not remain the same – for years it has been constantly evolving. The most significant sign of the research about risk evolution was underlined in publishing the work on Probability Theory by Pascal in 1657. The second work that had an influence on the development of risk theory was published by Halley’s Life Expectancy Table. Nevertheless, the most important event in science in the context of risk theory was the work of La Place: the prototype of quantitative methods of risk analysis with calculation of death and life expectancy probability with and without use of chickenpox vaccination. It marked the beginning of using statistic methods to measure risk in the contexts of things other than health aspects of human life, including references to economics and economy.