Hardcover. 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. The compilation of ground-breaking papers contained in this collection offers a complete description of the evolution of knowledge in the economics of risk and time, from its early twentieth-century explorations to its current diversity of approaches. Shipping may be from multiple locations in the US or from the UK, depending on stock availability.

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Bibliographic Details

Title: The Economics of Risk and Uncertainty (Hardcover)
Publisher: Edward Elgar Publishing Ltd, Cheltenham
Publication Date: 2018
Language: English
ISBN 10: 1786432749
ISBN 13: 9781786432742
Binding: Hardcover
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, Universit� de Toulouse-Capitole, France

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