Handbook of the Economics of Risk and Uncertainty (Volume 1) - Hardcover

Hardcover

ISBN 10: 044453685X ISBN 13: 9780444536853

Publisher: North Holland, 2014

Synopsis

The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments.

• Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance
• Divides coverage between theoretical, empirical, and experimental findings
• Makes the economics of risk and uncertainty accessible to scholars in fields outside economics

About this title

About the Authors

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.

From the Back Cover

In this collection of 17 articles, top scholars synthesize and analyze scholarship on risk and uncertainty. Combining theoretical results with empirical and experimental findings, the Handbook defines the implications of scholarly work on risk to subjects in economics, management, finance, games, auctions, welfare, insurance, health, and the environment. It is the only volume on risk and uncertainty to examine this growing field in a systematic, comprehensive manner.

Edition details

• Publisher: North Holland
• Publication date: 2014
• Language: English
• ISBN 10: 044453685X
• ISBN 13: 9780444536853
• Binding: Hardcover
• Edition number: 1
• Number of pages: 896
• Editor: Machina Mark, Viscusi W. Kip