Economic Decisions Under Uncertainty

Economic Decisions Under Uncertainty by Hans-Werner Sinn.

The Fundamental Issues Involved Why do we need a theory of uncertainty? It is a fact that almost all man's economic decisions are made under conditions of uncertainty, but this fact alone does not provide a strong enough argument for making the effort necessary to generalize ordinary preference...

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Bibliographic Details
Main Author: Sinn, Hans-Werner (Author)
Corporate Author: SpringerLink (Online service)
Format: eBook
Language:English
Published: Heidelberg : Physica-Verlag HD : Imprint: Physica, 1989.
Edition:2nd ed. 1989.
Series:Springer eBook Collection.
Subjects:
Operations research.
Decision making.
Economic theory.
Electronic resources (E-books)
Online Access:Click to view e-book
Holy Cross Note:Loaded electronically.
Electronic access restricted to members of the Holy Cross Community.
Table of Contents:
  • One The Object of Choice under Uncertainty
  • A The Basic Decision-Theoretic Approach
  • B Probabilities
  • Two Rational Behavior under Risk
  • A The Two-Parametric Substitutive Criteria
  • B The Lexicographic Criterion
  • C The Expected-Utility Criterion
  • D Comparison of Preference Functional
  • Appendix 1
  • Appendix 2
  • Three The Structure of Risk Preference
  • A Psychological Aspects of Risk Evaluation
  • B The BLOOS Rule
  • C Arrow’s Hypothesis of Increasing Relative and Decreasing Absolute Risk Aversion
  • Appendix 1
  • Appendix 2
  • Appendix 3
  • Appendix 4
  • Four Multiple Risks
  • A Simultaneous Risks
  • B Sequential Risks
  • Five Areas of Application
  • A Portfolio Theory
  • B The Theory of Currency Speculation
  • C Theory of Insurance Demand
  • List of Abbreviated Journals
  • Author Index.

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