Non-Expected Utility and Risk Management : A Special Issue of the Geneva Papers on Risk and Insurance Theory

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 act...

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Corporate Author: SpringerLink (Online service)
Other Authors: Gollier, Christian (Editor), Machina, Mark J. (Editor)
Format: eBook
Language:English
Published: Dordrecht Springer Netherlands 1995, 1995
Edition:1st ed. 1995
Subjects:
Online Access:
Collection: Springer Book Archives -2004 - Collection details see MPG.ReNa
Table of Contents:
  • 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