1.

Record Nr.

UNINA9910458691703321

Autore

Chavas Jean-Paul

Titolo

Risk analysis in theory and practice [[electronic resource] /] / Jean-Paul Chavas

Pubbl/distr/stampa

Amsterdam ; ; Boston, : Elsevier/Butterworth Heinemann

San Diego, Calif., : Elsevier Academic Press, c2004

ISBN

1-281-02822-3

9786611028220

0-08-051633-5

Descrizione fisica

1 online resource (257 p.)

Collana

Academic Press advanced finance series

Disciplina

330/.01/5195

Soggetti

Risk - Econometric models

Uncertainty - Econometric models

Decision making - Econometric models

Electronic books.

Lingua di pubblicazione

Inglese

Formato

Materiale a stampa

Livello bibliografico

Monografia

Note generali

Description based upon print version of record.

Nota di bibliografia

Includes bibliographical references (p. 231-235) and index.

Nota di contenuto

Front Cover; Risk Analysis in Theory and Practice; Copyright Page; Contents; Chapter 1. Introduction; Chapter 2. The Measurement of Risk; Chapter 3. The Expected Utility Model; Chapter 4. The Nature of Risk Preferences; Chapter 5. Stochastic Dominance; Chapter 6. Mean-Variance Analysis; Chapter 7. Alternative Models of Risk Behavior; Chapter 8. Production Decisions Under Risk; Chapter 9. Portfolio Selection; Chapter 10. Dynamic Decisions Under Risk; Chapter 11. Contract and Policy Design Under Risk; Chapter 12. Contract and Policy Design Under Risk: Applications

Chapter 13. Market StabilizationAppendix A: Probability and Statistics; Appendix B: Optimization; Index

Sommario/riassunto

The objective of this book is to present this analytical framework and to illustrate how it can be used in the investigation of economic decisions under risk. In a sense, the economics of risk is a difficult subject: it involves understanding human decisions in the absence of perfect information. How do we make decisions when we do not know some of events affecting us? The complexities of our uncertain world and of



how humans obtain and process information make this difficult. In spite of these difficulties, much progress has been made. First, probability theory is the corner stone of risk ass