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Non-Expected Utility and Risk Management

Non-Expected Utility and Risk Management

 

134,57 €
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Editorial:
Springer Nature B.V.
Año de edición:
2010
Materia
Teoría y filosofía económicas
ISBN:
9789048157990
134,57 €
IVA incluido
Disponible

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  • Librería Samer Atenea
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Sobre IBD

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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