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Non-Expected Utility and Risk Management.

Non-Expected Utility and Risk Management.

・ISBN 978-0-7923-9642-0 hard EUR 99.99

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お気に入り
著者・編者Gollier, C. / M. J. Machina (eds.),
シリーズSpin-off from the Geneva Papers on Risk and Insurance Theory; 20:1 (1995).
出版社(Kluwer Academic, NE)
出版年月1995
ページ数150 pp.
言語ENG
ニュース番号<418-529 000-15079>

解説

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.