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)

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
LSN:	90-481-5799-4
Barcode:	9789048157990

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