Non-Expected Utility and Risk Management - A Special Issue of the Geneva Papers on Risk and Insurance Theory (Hardcover, Spin-off from the GENEVA PAPERS ON RISK AND INSURANCE THEORY; 20:1 (1995)., 1995)

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.

General

Imprint:	Springer
Country of origin:	Netherlands
Release date:	September 1995
First published:	1995
Editors:	Christian Gollier • Mark J. Machina
Dimensions:	234 x 156 x 11mm (L x W x T)
Format:	Hardcover
Pages:	150
Edition:	Spin-off from the GENEVA PAPERS ON RISK AND INSURANCE THEORY; 20:1 (1995)., 1995
ISBN-13:	978-0-7923-9642-0
Categories:	Books > Business & Economics > Business & management > Management of specific areas > Budgeting & financial management Books > Business & Economics > Business & management > Management & management techniques > Management decision making > General
LSN:	0-7923-9642-1
Barcode:	9780792396420

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