Author: Kenneth Joseph ArrowPublisher:
ISBN:
Category :
Languages : en
Pages : 274
Book Description
Individual Choice Under Certainty and Uncertainty. Vol. 3
Author: Kenneth Joseph ArrowPublisher:
ISBN:
Category :
Languages : en
Pages : 274
Book Description
Individual Choice Under Certainty and Uncertainty
Author: Kenneth Joseph ArrowPublisher: Harvard University Press
ISBN: 9780674137622
Category : Business & Economics
Languages : en
Pages : 292
Book Description
The third volume of Arrow's Collected Papers concerns the basic concept of rationality as it applies to an economic decision maker. In particular, it addresses the problem of choice faced by consumers in a multicommodity world and presents specific models of choice useful in economic analysis. It also discusses choice models under uncertainty.
Individual Choice Under Certainty and Uncertainty
Author: Kenneth Joseph ArrowPublisher:
ISBN:
Category : Consumers' preferences
Languages : en
Pages : 274
Book Description
Risk, Uncertainty and Profit
Author: Frank H. KnightPublisher: Cosimo, Inc.
ISBN: 1602060053
Category : Business & Economics
Languages : en
Pages : 401
Book Description
A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
Individual Choice Under Certainty and Uncertainty
Author: Kenneth Joseph ArrowPublisher:
ISBN:
Category :
Languages : en
Pages : 274
Book Description
Essays in Honor of Kenneth J. Arrow: Volume 3, Uncertainty, Information, and Communication
Author: Walter P. HellerPublisher: Cambridge University Press
ISBN: 9780521327046
Category : Business & Economics
Languages : en
Pages : 316
Book Description
The third in a series of volumes published in honour of Professor Kenneth J. Arrow, each covering a different area of economic theory.
Collected Papers of Kenneth J. Arrow: Individual choice under certainty and uncertainty
Author: Kenneth Joseph ArrowPublisher:
ISBN:
Category : Distributive justice
Languages : en
Pages : 302
Book Description
Prospect Theory
Author: Daniel KahnemanPublisher:
ISBN:
Category : Utility theory
Languages : en
Pages : 27
Book Description
Theory of Decision Under Uncertainty
Author: Itzhak GilboaPublisher: Cambridge University Press
ISBN: 052151732X
Category : Business & Economics
Languages : en
Pages : 216
Book Description
This book describes the classical axiomatic theories of decision under uncertainty, as well as critiques thereof and alternative theories. It focuses on the meaning of probability, discussing some definitions and surveying their scope of applicability. The behavioral definition of subjective probability serves as a way to present the classical theories, culminating in Savage's theorem. The limitations of this result as a definition of probability lead to two directions - first, similar behavioral definitions of more general theories, such as non-additive probabilities and multiple priors, and second, cognitive derivations based on case-based techniques.
Economic and Financial Decisions under Risk
Author: Louis EeckhoudtPublisher: Princeton University Press
ISBN: 1400829216
Category : Business & Economics
Languages : en
Pages : 245
Book Description
An understanding of risk and how to deal with it is an essential part of modern economics. Whether liability litigation for pharmaceutical firms or an individual's having insufficient wealth to retire, risk is something that can be recognized, quantified, analyzed, treated--and incorporated into our decision-making processes. This book represents a concise summary of basic multiperiod decision-making under risk. Its detailed coverage of a broad range of topics is ideally suited for use in advanced undergraduate and introductory graduate courses either as a self-contained text, or the introductory chapters combined with a selection of later chapters can represent core reading in courses on macroeconomics, insurance, portfolio choice, or asset pricing. The authors start with the fundamentals of risk measurement and risk aversion. They then apply these concepts to insurance decisions and portfolio choice in a one-period model. After examining these decisions in their one-period setting, they devote most of the book to a multiperiod context, which adds the long-term perspective most risk management analyses require. Each chapter concludes with a discussion of the relevant literature and a set of problems. The book presents a thoroughly accessible introduction to risk, bridging the gap between the traditionally separate economics and finance literatures.