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.
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भाषा अंग्रेज़ी ● स्वरूप PDF ● ISBN 9789401724401 ● संपादक Christian Gollier & Mark J. Machina ● प्रकाशक Springer Netherlands ● प्रकाशित 2013 ● डाउनलोड करने योग्य 3 बार ● मुद्रा EUR ● आईडी 4719303 ● कॉपी सुरक्षा Adobe DRM
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