Every risk management device relies on a design and the design is usually complex and has-- it all has to work together.

每种风险管理工具都是基于某种设计,而这种设计通常都是很复杂的,需要各部分相互之间的配合

耶鲁公开课 - 金融市场课程节选

I stressed in the third lecture that like any--insurance, like any other risk management device, is an invention.

在第三次课上我已经强调过了,保险和其它风险管理工具一样,是一种发明

耶鲁公开课 - 金融市场课程节选