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...

Full description

Corporate Author: SpringerLink (Online service)
Other Authors: Gollier, Christian (Editor), Machina, Mark J. (Editor)
Format: eBook
Published: Dordrecht Springer Netherlands 1995, 1995
Edition:1st ed. 1995
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