Uncertainty in economics : readings and exercises / / editors, Peter Diamond, Michael Rothschild

• Pubblicazione: New York ; ; London : , : Academic Press, Inc. : , : Academic Press, Inc. (London) Ltd., , 1978; ©1978
• Descrizione fisica: 1 online resource (569 pages)
• Disciplina: 330
• Soggetto topico: Risk; Uncertainty
• Persona (resp. second.): DiamondPeter A.; RothschildMichael <1942->
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references at the end of each chapters.
• Nota di contenuto: Front Cover; Uncertainty in Economics: Readings and Exercises; Copyright Page; Dedication; Table of Contents; Preface; Part I: INDIVIDUAL CHOICE IN A STATIC SETTING; Chapter 1. Risk taking by individual option-Case study: Cigarette smoking; PHARMACOLOGICAL BENEFITS; PSYCHOLOGICAL BENEFITS; REFERENCES; Chapter 2. Judgment under uncertainty: Heuristics and biases; Representativeness; Availability; Adjustment and Anchoring; Discussion; Summary; References and Notes; Chapter 3. Axiomatic theories of choice, cardinal utility and subjective probability: A review; I. HISTORICAL PERSPECTIVE ; II. THE CONCEPTUAL FRAMEWORK; III. AXIOMS OF A NORMATIVE THEORY; IV. OBJECTIONS TO THE NORMATIVE APPEAL OF THE AXIOMS; V. MERITS AND LIMITATIONS OF THE THEORY; VI. LINK WITH ECONOMIC APPLICATIONS; REFERENCES; Chapter 4. Risk aversion in the small and in the large; 1. SUMMARY AND INTRODUCTION; 2. THE RISK PREMIUM; 3. LOCAL RISK AVERSION; 4. CONCAVITY; 5. COMPARATIVE RISK AVERSION; 6. CONSTANT RISK AVERSION; 7. INCREASING AND DECREASING RISK AVERSION; 8. OPERATIONS WHICH PRESERVE DECREASING RISK AVERSION; 9. EXAMPLES; 11. CONSTANT PROPORTIONAL RISK AVERSION ; 12. INCREASING AND DECREASING PROPORTIONAL RISK AVERSION; 13. RELATED WORK OF ARROW; Exercise on demand for insurance; Chapter 5. Some remarks on measures of risk aversion and their uses; I; II; Ill; IV; REFERENCES; Chapter 6. Increasing risk: I. A definition; I. INTRODUCTION; II. THE INTEGRAL CONDITIONS; III. PARTIAL ORDERINGS OF DISTRIBUTION FUNCTIONS; IV. MEAN-VARIANCE ANALYSIS; ACKNOWLEDGMENTS; REFERENCES; Comment; Chapter 7. Notes and exercises on increasing risk; References; Chapter 8. Savings and uncertainty: The precautionary demand for saving; I. INTRODUCTION ; II. A Two PERIOD MODEL OF CONSUMPTION; III. THE EFFECT OF UNCERTAINTY ON SAVING; IV. DECREASING RISK AVERSION AND PRECAUTIONARY SAVING; V. SPECULATIONS ON THE CONSUMPTION FUNCTION; VI. CONCLUSION; Exercise on savings under uncertainty1; Chapter 9. Two omitted topics: Mean-variance analysis and the expected value of information; References; Chapter 10. The effect of uncertainty on resource allocation in a General Equilibrium Model; I. INTRODUCTION; II. SOME PARTIAL EQUILIBRIUM RESULTS; III. MODEL ONE: RANDOM LABOR SUPPLY; APPENDIX; Part II: GENERAL EQUILIBRIUM IN A STATIC SETTING ; Chapter 11. ""Theory of Value,"" Chapter 77.1. INTRODUCTION; 7.2. EVENTS; 7.3. COMMODITIES AND PRICES; 7.4. PRODUCERS; 7.5. CONSUMERS; 7.6. EQUILIBRIUM; 7.7. OPTIMUM; References; Exercise on equilibrium prices and consumption; Comment; Chapter 12. Competitive equilibrium under uncertainty; I. INTRODUCTION; 2. STATES AND ACTS; 3. FIXED INFORMATION ABOUT THE ENVIRONMENTS; STRATEGIES; 4. CONSUMERS AND PRODUCERS; 5. EQUILIBRIUM; 6. OPTIMUM; 7. AN EXAMPLE; 8. INFORMATIONAL CONSTRAINTS ON TRADE; 9. CHOICE OF INFORMATION; 10. NETWORK INFORMATION; 11. MARKET INFORMATION AND DEFERRED MARKETS; 12. COMPUTATION
• Sommario/riassunto: Uncertainty in Economics
• Titolo autorizzato: Uncertainty in Economics
• ISBN: 1-4832-6450-5
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910786637803321
• Lo trovi qui: Univ. Federico II
• Serie: Economic theory, econometrics, and mathematical economics.