The Economics of Risk and Uncertainty

Christian Gollier

ISBN 10: 1786432749 / ISBN 13: 9781786432742

Published by Edward Elgar Publishing Ltd, GB, 2018

About this Item

This research review assesses the ground-breaking contributions to the evolution of knowledge in the economics of risk and time, from its early twentieth-century explorations to its current diversity of approaches. The analysis focuses first on the basic decisions under uncertainty, and then on asset pricing. It further discusses both classical expected utility approach and its non-expected utility generalizations, with applications to dynamic portfolio choices, insurance, risk sharing, and risk prevention. This review will be valuable for scholars in finance and macroeconomics, particularly those with an interest in the modeling foundations of consumer and investor decisions under uncertainty.

Seller Inventory # LU-9781786432742

Bibliographic Details

• Title: The Economics of Risk and Uncertainty
• Publisher: Edward Elgar Publishing Ltd, GB
• Publication Date: 2018
• Language: English
• ISBN 10: 1786432749
• ISBN 13: 9781786432742
• Binding: Hardback
• Condition: New

About this title

Synopsis

This research review assesses the ground-breaking contributions to the evolution of knowledge in the economics of risk and time, from its early twentieth-century explorations to its current diversity of approaches. The analysis focuses first on the basic decisions under uncertainty, and then on asset pricing. It further discusses both classical expected utility approach and its non-expected utility generalizations, with applications to dynamic portfolio choices, insurance, risk sharing, and risk prevention. This review will be valuable for scholars in finance and macroeconomics, particularly those with an interest in the modeling foundations of consumer and investor decisions under uncertainty.

About the Author

Edited by Christian Gollier, Toulouse School of Economics, Université de Toulouse-Capitole, France