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Books > Business & Economics > Business & management > Management & management techniques > Management decision making
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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)
Loot Price: R2,730
Discovery Miles 27 300
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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 to ship within 18 - 22 working days
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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
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