Springer
Non-Expected Utility and Risk Management: A Special Issue of the Geneva Papers on Risk and Insurance Theory
Product Code:
9789048157990
ISBN13:
9789048157990
Condition:
New
$118.37
Non-Expected Utility and Risk Management: A Special Issue of the Geneva Papers on Risk and Insurance Theory
$118.37
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.
Non-Expected Utility and Risk Management examines whether the existing results in insurance economics are robust to more general models of behavior under risk.
| Author: Christian Gollier |
| Publisher: Springer |
| Publication Date: Dec 05, 2010 |
| Number of Pages: 150 pages |
| Binding: Paperback or Softback |
| ISBN-10: 9048157994 |
| ISBN-13: 9789048157990 |
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