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140122 ||| eng |
| 020 |
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|a 9789401724401
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| 100 |
1 |
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|a Gollier, Christian
|e [editor]
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| 245 |
0 |
0 |
|a Non-Expected Utility and Risk Management
|h Elektronische Ressource
|b A Special Issue of the Geneva Papers on Risk and Insurance Theory
|c edited by Christian Gollier, Mark J. Machina
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| 250 |
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|a 1st ed. 1995
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| 260 |
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|a Dordrecht
|b Springer Netherlands
|c 1995, 1995
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| 300 |
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|a VI, 150 p
|b online resource
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| 505 |
0 |
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|a Introductory Note -- Non-Expected Utility and the Robustness of the Classical Insurance Paradigm -- Non-Expected Utility and the Robustness of the Classical Insurance Paradigm: Discussion -- The Comparative Statics of Deductible Insurance in Expected- and Non-Expected-Utility Theories -- Risk Aversion Concepts in Expected- and Non-Expected-Utility Models -- Government Action, Biases in Risk Perception, and Insurance Decisions -- A Comparison of the Estimates of Expected Utility and Non-Expected-Utility Preference Functionals -- Functional Form Problems in Modeling Insurance and Gambling
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| 653 |
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|a Microeconomics
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| 653 |
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|a Finance
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| 653 |
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|a Operations research
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| 653 |
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|a Operations Research/Decision Theory
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| 653 |
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|a Microeconomics
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| 653 |
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|a Economic Theory/Quantitative Economics/Mathematical Methods
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| 653 |
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|a Decision making
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| 653 |
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|a Economic theory
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| 653 |
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|a Finance, general
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| 700 |
1 |
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|a Machina, Mark J.
|e [editor]
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| 710 |
2 |
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|a SpringerLink (Online service)
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| 041 |
0 |
7 |
|a eng
|2 ISO 639-2
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| 989 |
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|b SBA
|a Springer Book Archives -2004
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| 856 |
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|u https://doi.org/10.1007/978-94-017-2440-1?nosfx=y
|x Verlag
|3 Volltext
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| 082 |
0 |
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|a 658.40301
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| 520 |
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|a 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
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