Economic And Financial Decisions Under Risk
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Economic And Financial Decisions Under Risk
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Author : Louis Eeckhoudt
language : en
Publisher: Princeton University Press
Release Date : 2011-10-30
Economic And Financial Decisions Under Risk written by Louis Eeckhoudt and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-10-30 with Business & Economics categories.
An understanding of risk and how to deal with it is an essential part of modern economics. Whether liability litigation for pharmaceutical firms or an individual's having insufficient wealth to retire, risk is something that can be recognized, quantified, analyzed, treated--and incorporated into our decision-making processes. This book represents a concise summary of basic multiperiod decision-making under risk. Its detailed coverage of a broad range of topics is ideally suited for use in advanced undergraduate and introductory graduate courses either as a self-contained text, or the introductory chapters combined with a selection of later chapters can represent core reading in courses on macroeconomics, insurance, portfolio choice, or asset pricing. The authors start with the fundamentals of risk measurement and risk aversion. They then apply these concepts to insurance decisions and portfolio choice in a one-period model. After examining these decisions in their one-period setting, they devote most of the book to a multiperiod context, which adds the long-term perspective most risk management analyses require. Each chapter concludes with a discussion of the relevant literature and a set of problems. The book presents a thoroughly accessible introduction to risk, bridging the gap between the traditionally separate economics and finance literatures.
Financial Decision Making Under Uncertainty
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Author : ANDERSON ANDERSON WEBSTER
language : en
Publisher: Academic Press
Release Date : 2014-06-28
Financial Decision Making Under Uncertainty written by ANDERSON ANDERSON WEBSTER and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-28 with Business & Economics categories.
Financial Dec Making under Uncertainty
Managing Risk And Uncertainty
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Author : Richard Friberg
language : en
Publisher:
Release Date : 2016
Managing Risk And Uncertainty written by Richard Friberg and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016 with Corporations categories.
This book offers a framework for making decisions under risk and uncertainty. Synthesizing research from economics, finance, decision theory, management, and other fields, the book provides a set of tools and a way of thinking that determines the relative merits of different strategies. It takes as its premise that we make better decisions if we use the whole toolkit of economics and related fields to inform our decision making. The text explores the distinction between risk and uncertainty and covers standard models of decision making under risk as well as more recent work on decision making.
The Economics Of Risk And Time
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Author : Christian Gollier
language : en
Publisher: MIT Press
Release Date : 2001
The Economics Of Risk And Time written by Christian Gollier and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001 with Business & Economics categories.
Updates and advances the theory of expected utility as applied to risk analysis and financial decision making.
Handbook Of The Fundamentals Of Financial Decision Making
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Author : Leonard C. MacLean
language : en
Publisher: World Scientific
Release Date : 2013
Handbook Of The Fundamentals Of Financial Decision Making written by Leonard C. MacLean and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
This handbook in two parts covers key topics of the theory of financial decision making. Some of the papers discuss real applications or case studies as well. There are a number of new papers that have never been published before especially in Part II.Part I is concerned with Decision Making Under Uncertainty. This includes subsections on Arbitrage, Utility Theory, Risk Aversion and Static Portfolio Theory, and Stochastic Dominance. Part II is concerned with Dynamic Modeling that is the transition for static decision making to multiperiod decision making. The analysis starts with Risk Measures and then discusses Dynamic Portfolio Theory, Tactical Asset Allocation and Asset-Liability Management Using Utility and Goal Based Consumption-Investment Decision Models.A comprehensive set of problems both computational and review and mind expanding with many unsolved problems are in an accompanying problems book. The handbook plus the book of problems form a very strong set of materials for PhD and Masters courses both as the main or as supplementary text in finance theory, financial decision making and portfolio theory. For researchers, it is a valuable resource being an up to date treatment of topics in the classic books on these topics by Johnathan Ingersoll in 1988, and William Ziemba and Raymond Vickson in 1975 (updated 2 nd edition published in 2006).
Economics And Finance Of Risk And Of The Future
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Author : Robert Kast
language : en
Publisher: Wiley
Release Date : 2006-06-14
Economics And Finance Of Risk And Of The Future written by Robert Kast and has been published by Wiley this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-06-14 with Business & Economics categories.
This book uses real-world examples to show how individual and collective risks can be blended and treated in a reliable decision-making framework that draws its inspiration from decision theory and market based mechanisms. It then goes into deeper detail by looking at the implications of having to face risks (a) where some kind of probabilistic description is available and (b) where none is available, using the example of insurable risks vs non-insurable risks. Again, by using real-world examples it shows how decision-makers can cope with such situations by a proper understanding and use of modern financial techniques.
Risk Analysis In Theory And Practice
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Author : Jean-Paul Chavas
language : en
Publisher: Elsevier
Release Date : 2004-06-04
Risk Analysis In Theory And Practice written by Jean-Paul Chavas and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-06-04 with Business & Economics categories.
The objective of Risk Analysis in Theory and Practice 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 assessment. This allows us to measure risk in a fashion that can be communicated among decision makers or researchers. Second, risk preferences are now better understood. This provides useful insights into the economic rationality of decision making under uncertainty. Third, over the last decades, good insights have been developed about the value of information. This helps better understand the role of information in human decision making and this book provides a systematic treatment of these issues in the context of both private and public decisions under uncertainty. Balanced treatment of conceptual models and applied analysis Considers both private and public decisions under uncertainty Website presents application exercises in Excel
Pricing The Planet S Future
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Author : Christian Gollier
language : en
Publisher: Princeton University Press
Release Date : 2013
Pricing The Planet S Future written by Christian Gollier and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
Today, the judge, the citizen, the politician, and the entrepreneur are concerned with the sustainability of our development.
Dynamic Economic Decision Making
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Author : John E. Silvia
language : en
Publisher: John Wiley & Sons
Release Date : 2011-08-09
Dynamic Economic Decision Making written by John E. Silvia and has been published by John Wiley & Sons this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08-09 with Business & Economics categories.
A comprehensive analysis of the macroeconomic and financial forces altering the economic landscape Financial decision-making requires one to anticipate how their decision will not only affect their business, but also the economic environment. Unfortunately, all too often, both private and public sector decision-makers view their decisions as one-off responses and fail to see their decisions within the context of an evolving decision-making framework. In Decision-Making in a Dynamic Economic Setting, John Silvia, Chief Economist of Wells Fargo and one of the top 5 economic forecasters according to Bloomberg News and USA Today, skillfully puts this discipline in perspective. Details realistic, decision-making approaches and applications under a broad set of economic scenarios Analyzes monetary policy and addresses the impact of financial regulations Examines business cycles and how to identify economic trends, how to deal with uncertainty and manage risk, the building blocks of growth, and strategies for innovation Decision-Making in a Dynamic Economic Setting details the real-world application of economic principles and financial strategy in making better business decisions.
Stochastic Dominance And Applications To Finance Risk And Economics
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Author : Songsak Sriboonchita
language : en
Publisher: Chapman & Hall/CRC
Release Date : 2017-06-28
Stochastic Dominance And Applications To Finance Risk And Economics written by Songsak Sriboonchita and has been published by Chapman & Hall/CRC this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-06-28 with categories.
Drawing from many sources in the literature, Stochastic Dominance and Applications to Finance, Risk and Economics illustrates how stochastic dominance (SD) can be used as a method for risk assessment in decision making. It provides basic background on SD for various areas of applications. Useful Concepts and Techniques for Economics Applications The majority of the text presents a systematic exposition of SD, emphasizing rigor and generality. It covers utility theory, multivariate SD, quantile functions, risk modeling, Choquet integrals, other risk measures, statistical inference, nonparametric estimation, hypothesis testing, and econometrics. The remainder of the book explores new applications of SD in finance, risk, and economics. At the beginning of each economic concept, the authors clearly explain only the necessary mathematics so readers are not overburdened with learning nonessential, arduous mathematics. This accessible guide helps readers build a useful repertoire of mathematical tools in decision making under uncertainty, especially in investment science. It provides thorough coverage on the theory of SD, along with many applications to economics and other fields where risk is crucial.