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Non-Expected Utility and Risk Management - A Special Issue of the Geneva Papers on Risk and Insurance Theory (Paperback, Softcover reprint of hardcover 1st ed. 1995) Loot Price: R2,873
Discovery Miles 28 730
Repayment Terms: R269 pm x 12*
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Non-Expected Utility and Risk Management - A Special Issue of the Geneva Papers on Risk and Insurance Theory (Paperback,...

Non-Expected Utility and Risk Management - A Special Issue of the Geneva Papers on Risk and Insurance Theory (Paperback, Softcover reprint of hardcover 1st ed. 1995)

Christian Gollier, Mark J. Machina

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Loot Price R2,873 Discovery Miles 28 730 | Repayment Terms: R269 pm x 12*

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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

Imprint: Springer
Country of origin: Netherlands
Release date: December 2010
First published: 1995
Editors: Christian Gollier • Mark J. Machina
Dimensions: 235 x 155 x 8mm (L x W x T)
Format: Paperback
Pages: 150
Edition: Softcover reprint of hardcover 1st ed. 1995
ISBN-13: 978-90-481-5799-0
Categories: Books > Business & Economics > Economics > Economic theory & philosophy
Books > Business & Economics > Economics > Microeconomics > General
Books > Business & Economics > Finance & accounting > Finance > General
Books > Business & Economics > Business & management > Management & management techniques > Operational research
Books > Money & Finance > General
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LSN: 90-481-5799-4
Barcode: 9789048157990

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