Christian Gollier & Mark J. Machina 
Non-Expected Utility and Risk Management [PDF ebook] 
A Special Issue of the Geneva Papers on Risk and Insurance Theory

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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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语言 英语 ● 格式 PDF ● ISBN 9789401724401 ● 编辑 Christian Gollier & Mark J. Machina ● 出版者 Springer Netherlands ● 发布时间 2013 ● 下载 3 时 ● 货币 EUR ● ID 4719303 ● 复制保护 Adobe DRM
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