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Books > Business & Economics > Finance & accounting > Finance > Insurance
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Applied Economic Analysis of Information and Risk (Paperback, 1st ed. 2020)
Loot Price: R3,268
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Applied Economic Analysis of Information and Risk (Paperback, 1st ed. 2020)
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This book examines interesting new topics in applied economics from
the perspectives of the economics of information and risk, two
fields of economics that address the consequences of asymmetric
information, environmental risk and uncertainty for the nature and
efficiency of interactions between individuals and organizations.
In the economics of information, the essential task is to examine
the condition of asymmetric information under which the information
gap is exploited. For the economics of risk, it is important to
investigate types of behavior including risk aversion, risk
sharing, and risk prevention, and to reexamine the classical
expected utility approach and the relationships among several types
of the changes in risk. Few books have ever analyzed topics in
applied economics with regard to information and risk. This book
provides a comprehensive collection of applied analyses, while also
revisiting certain basic concepts in the economics of information
and risk. The book consists of two parts. In Part I, several
aspects of applied economics are investigated, including public
policy, labor economics, and political economics, from the
standpoint of the economics of (asymmetric) information. First,
several basic frameworks of the incentive mechanism with regard to
transaction-specific investment are assessed, then various tools
for market design and organization design are explored. In Part II,
mathematical measures of risk and risk aversion are examined in
more detail, and readers are introduced to stochastic selection
rules governing choice behavior under uncertainty. Several types of
change in the random variable for the cumulative distribution
function (CDF) and probability distribution function (PDF) are
discussed. In closing, the part investigates the comparative static
results of these changes in CDF or PDF on the general decision
model, incorporating uncertain situations in applied economics.
General
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