Handbook of the Economics of Risk and Uncertainty

Mark Machina is a Fellow at the Amercian Academy of Arts and Sciences and has taught at Columbia University, the University of Cambridge, Princeton University, the People's University of China in Beijing, Duke University, and the University of Wyoming. W. Kip Viscusi is the award-winning author of more than 20 books and 300 articles, most of which deal with different aspects of health and safety risks. His pathbreaking research had addressed a wide range of individual and societal responses to risk and uncertainty, including risky behaviors, governmental regulation, and tort liability.

Section I: Individual Choice under Risk and Uncertainty: Foundations and Measurement

1. Axiomatic Foundations of Expected Utility and Subjective Probability - Edi Karni

2. Rationality and Dynamic Consistency under Risk and Uncertainty – Peter J. Hammond and Horst Zank

3. The Theory of Risk and Risk Aversion – Jack Meyer

4. Assessment and Estimation of Risk Preferences - Charles A. Holt and Susan K. Laury

Section II: Risk and Uncertainty: Markets and Public Policy

5. Insurance and Insurance Markets - Georges Dionne and Scott Harrington

6. Uncertainty and Imperfect Information in Markets - Benjamin E. Hermalin

7. The Value of Individual and Societal Risks to Life and Health – W. Kip Viscusi

8. Economic Analysis of Risk and Uncertainty Induced by Health Shocks: A Review and Extension – Tomas J. Philipson and George Zanjani

9. Regulating Occupational and Product Risks – Thomas J. Kneisner and John D. Leeth

10. Environmental Risk and Uncertainty – Joseph E. Aldy and W. Kip Viscusi

11. Economics of Natural Catastrophic Risk Insurance – Howard Kunreuther and Erwann Michel-Kerjan

Section III: Challenges and Responses to the Classical Model of Risk Preferences and Beliefs

12. Non-Expected Utility Models under Objective Uncertainty – John Quiggin

13.Ambiguity and Ambiguity Aversion – Mark J. Machina and Marciano Siniscalchi

14.Choice Under Uncertainty: Empirical Methods and Experimental Results – John D. Hey