Non-Expected Utility and Risk Management
ISBN:
9789048157990
Auflage:
Softcover reprint of hardcover 1st ed. 1995
Verlag:
Springer Netherland
Land des Verlags:
Deutschland
Erscheinungsdatum:
05.12.2010
Herausgeber:
Format:
Softcover
Seitenanzahl:
150
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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.
Non-Expected Utility and Risk Management examines whether the existing results in insurance economics are robust to more general models of behavior under risk.
Schlagwörter
Proceedings of the 7th International Conference on Economic Management and Green Development
Erscheinungsjahr:
2024
