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: 978-90-481-5799-0
- EAN: 9789048157990
- Produktnummer: 10672220
- Verlag: Springer Netherlands
- Sprache: Englisch
- Erscheinungsjahr: 2010
- Seitenangabe: 156 S.
- Masse: H23.5 cm x B15.5 cm x D0.8 cm 248 g
- Auflage: Softcover reprint of hardcover 1st ed. 1995
- Abbildungen: Paperback
- Gewicht: 248
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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