Non-Expected Utility and Risk Management: A Special Issue of the Geneva Papers on Risk and Insurance Theory - Hardcover

 
9780792396420: Non-Expected Utility and Risk Management: A Special Issue of the Geneva Papers on Risk and Insurance Theory

Synopsis

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.

"synopsis" may belong to another edition of this title.

Other Popular Editions of the Same Title

9789048157990: Non-Expected Utility and Risk Management: A Special Issue of the Geneva Papers on Risk and Insurance Theory

Featured Edition

ISBN 10:  9048157994 ISBN 13:  9789048157990
Publisher: Springer, 2010
Softcover