Non-Expected Utility and Risk Management -

Non-Expected Utility and Risk Management

A Special Issue of the Geneva Papers on Risk and Insurance Theory
Buch | Hardcover
150 Seiten
1995 | Spin-off from the GENEVA PAPERS ON RISK AND INSURANCE THEORY; 20:1 (1995)., 1995
Springer (Verlag)
978-0-7923-9642-0 (ISBN)
106,99 inkl. MwSt
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.

Introductory Note.- Non-Expected Utility and the Robustness of the Classical Insurance Paradigm.- Non-Expected Utility and the Robustness of the Classical Insurance Paradigm: Discussion.- The Comparative Statics of Deductible Insurance in Expected- and Non-Expected-Utility Theories.- Risk Aversion Concepts in Expected- and Non-Expected-Utility Models.- Government Action, Biases in Risk Perception, and Insurance Decisions.- A Comparison of the Estimates of Expected Utility and Non-Expected-Utility Preference Functionals.- Functional Form Problems in Modeling Insurance and Gambling.

Erscheint lt. Verlag 30.9.1995
Zusatzinfo VI, 150 p.
Verlagsort Dordrecht
Sprache englisch
Maße 156 x 234 mm
Themenwelt Wirtschaft Allgemeines / Lexika
Wirtschaft Betriebswirtschaft / Management Finanzierung
Wirtschaft Betriebswirtschaft / Management Unternehmensführung / Management
ISBN-10 0-7923-9642-1 / 0792396421
ISBN-13 978-0-7923-9642-0 / 9780792396420
Zustand Neuware
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