The Nature of Risk Preferences
Author | : Levon Barseghyan |
Publisher | : |
Total Pages | : 40 |
Release | : 2012 |
Genre | : |
ISBN | : |
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Author | : Levon Barseghyan |
Publisher | : |
Total Pages | : 40 |
Release | : 2012 |
Genre | : |
ISBN | : |
Author | : Mark Machina |
Publisher | : Newnes |
Total Pages | : 897 |
Release | : 2013-11-14 |
Genre | : Business & Economics |
ISBN | : 0444536868 |
The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments. Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance Divides coverage between theoretical, empirical, and experimental findings Makes the economics of risk and uncertainty accessible to scholars in fields outside economics
Author | : McAfee, R. Preston |
Publisher | : London : Department of Economics, University of Western Ontario |
Total Pages | : 25 |
Release | : 1984 |
Genre | : |
ISBN | : 9780771405150 |
Author | : Jean-Paul Chavas |
Publisher | : Elsevier |
Total Pages | : 257 |
Release | : 2004-07-01 |
Genre | : Business & Economics |
ISBN | : 0080516335 |
The objective of Risk Analysis in Theory and Practice is to present this analytical framework and to illustrate how it can be used in the investigation of economic decisions under risk. In a sense, the economics of risk is a difficult subject: it involves understanding human decisions in the absence of perfect information. How do we make decisions when we do not know some of events affecting us? The complexities of our uncertain world and of how humans obtain and process information make this difficult. In spite of these difficulties, much progress has been made. First, probability theory is the corner stone of risk assessment. This allows us to measure risk in a fashion that can be communicated among decision makers or researchers. Second, risk preferences are now better understood. This provides useful insights into the economic rationality of decision making under uncertainty. Third, over the last decades, good insights have been developed about the value of information. This helps better understand the role of information in human decision making and this book provides a systematic treatment of these issues in the context of both private and public decisions under uncertainty. Balanced treatment of conceptual models and applied analysis Considers both private and public decisions under uncertainty Website presents application exercises in Excel
Author | : Dominique Pépin |
Publisher | : |
Total Pages | : |
Release | : 2020 |
Genre | : |
ISBN | : |
Author | : Frank H. Knight |
Publisher | : Cosimo, Inc. |
Total Pages | : 401 |
Release | : 2006-11-01 |
Genre | : Business & Economics |
ISBN | : 1602060053 |
A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Author | : National Research Council |
Publisher | : National Academies Press |
Total Pages | : 206 |
Release | : 1983-02-01 |
Genre | : Medical |
ISBN | : 0309033497 |
The regulation of potentially hazardous substances has become a controversial issue. This volume evaluates past efforts to develop and use risk assessment guidelines, reviews the experience of regulatory agencies with different administrative arrangements for risk assessment, and evaluates various proposals to modify procedures. The book's conclusions and recommendations can be applied across the entire field of environmental health.
Author | : Edi Karni |
Publisher | : |
Total Pages | : 36 |
Release | : 1988 |
Genre | : |
ISBN | : |
Author | : Glenn W. Harrison |
Publisher | : Emerald Group Publishing |
Total Pages | : 291 |
Release | : 2023-10-23 |
Genre | : Business & Economics |
ISBN | : 1837972702 |
Models of Risk Preferences collects studies that critically review alternatives to Expected Utility Theory from the perspective of experimental economics.
Author | : Ralph L. Keeney |
Publisher | : Cambridge University Press |
Total Pages | : 596 |
Release | : 1993-07 |
Genre | : Business & Economics |
ISBN | : 9780521438834 |
This book describes how a confused decision maker, who wishes to make a reasonable and responsible choice among alternatives, can systematically probe their thoughts and feelings in order to make the critically important trade-offs between incommensurable objectives.