Non-Expected Utility and Risk Management
A Special Issue of the Geneva Papers on Risk and Insurance Theory
Expected utility provides simple, testable properties of the optimum behavior that should be displayed by risk-averse individuals in risky decisions. Simultaneously, given the existence of paradoxes under the expected utility paradigm, expected utility can only be regarded as an approximation of actual behavior. A more realistic model is needed. This is particularly true when treating attitudes toward small probability events: the standard situation for insurable risks. Non-Expected Utility and Risk Management examines whether the existing results in insurance economics are robust to more general models of behavior under risk.
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Produktdetails
Weitere Autoren: Machina, Mark J. (Hrsg.)
- ISBN: 978-0-7923-9642-0
- EAN: 9780792396420
- Produktnummer: 8522163
- Verlag: Springer Netherlands
- Sprache: Englisch
- Erscheinungsjahr: 1995
- Seitenangabe: 154 S.
- Masse: H24.4 cm x B16.4 cm x D1.7 cm 345 g
- Auflage: Spin-off from the GENEVA PAPERS ON RISK AND INSURANCE THEORY; 20:1 (1995)., 1995
- Abbildungen: HC runder Rücken kaschiert
- Gewicht: 345
3 weitere Werke von Christian (Hrsg.) Gollier:
Non-Expected Utility and Risk Management
A Special Issue of the Geneva Papers on Risk and Insurance Theory
A Special Issue of the Geneva Papers on Risk and Insurance Theory
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