The Econometrics Of Individual Risk
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The Econometrics Of Individual Risk
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Author : Christian Gourieroux
language : en
Publisher: Princeton University Press
Release Date : 2015-07-28
The Econometrics Of Individual Risk written by Christian Gourieroux 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 2015-07-28 with Business & Economics categories.
The individual risks faced by banks, insurers, and marketers are less well understood than aggregate risks such as market-price changes. But the risks incurred or carried by individual people, companies, insurance policies, or credit agreements can be just as devastating as macroevents such as share-price fluctuations. A comprehensive introduction, The Econometrics of Individual Risk is the first book to provide a complete econometric methodology for quantifying and managing this underappreciated but important variety of risk. The book presents a course in the econometric theory of individual risk illustrated by empirical examples. And, unlike other texts, it is focused entirely on solving the actual individual risk problems businesses confront today. Christian Gourieroux and Joann Jasiak emphasize the microeconometric aspect of risk analysis by extensively discussing practical problems such as retail credit scoring, credit card transaction dynamics, and profit maximization in promotional mailing. They address regulatory issues in sections on computing the minimum capital reserve for coverage of potential losses, and on the credit-risk measure CreditVar. The book will interest graduate students in economics, business, finance, and actuarial studies, as well as actuaries and financial analysts.
Granularity Theory With Applications To Finance And Insurance
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Author : Patrick Gagliardini
language : en
Publisher: Cambridge University Press
Release Date : 2014-10-06
Granularity Theory With Applications To Finance And Insurance written by Patrick Gagliardini and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-10-06 with Business & Economics categories.
This book provides the first comprehensive overview of the granularity theory and its usefulness for risk analysis, statistical estimation, and derivative pricing.
Financial Economics Risk And Information
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Author : Marcelo Bianconi
language : en
Publisher: World Scientific
Release Date : 2011-08-23
Financial Economics Risk And Information written by Marcelo Bianconi and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-08-23 with Business & Economics categories.
Financial Economics, Risk and Information presents the fundamentals of finance in static and dynamic frameworks with focus on risk and information. The objective of this book is to introduce undergraduate and first-year graduate students to the methods and solutions of the main problems in finance theory relating to the economics of uncertainty and information. The main goal of the second edition is to make the materials more accessible to a wider audience of students and finance professionals. The focus is on developing a core body of theory that will provide the student with a solid intellectual foundation for more advanced topics and methods. The new edition has streamlined chapters and topics, with new sections on portfolio choice under alternative information structures. The starting point is the traditional mean-variance approach, followed by portfolio choice from first principles. The topics are extended to alternative market structures, alternative contractual arrangements and agency, dynamic stochastic general equilibrium in discrete and continuous time, attitudes towards risk and towards inter-temporal substitution in discrete and continuous time; and option pricing. In general, the book presents a balanced introduction to the use of stochastic methods in discrete and continuous time in the field of financial economics.
Handbook Of The Economics Of Risk And Uncertainty
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Author : Mark Machina
language : en
Publisher: Newnes
Release Date : 2013-11-14
Handbook Of The Economics Of Risk And Uncertainty written by Mark Machina and has been published by Newnes this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-11-14 with Business & Economics categories.
The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments. Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance Divides coverage between theoretical, empirical, and experimental findings Makes the economics of risk and uncertainty accessible to scholars in fields outside economics
Risk Analysis In Theory And Practice
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Author : Jean-Paul Chavas
language : en
Publisher: Elsevier
Release Date : 2004-07-01
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 2004-07-01 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
Risk Matrix
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Author : Chunbing Bao
language : en
Publisher: Springer Nature
Release Date : 2022-06-12
Risk Matrix written by Chunbing Bao and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-06-12 with Business & Economics categories.
This book focuses on discussing the issues of rating scheme design and risk aggregation of risk matrix, which is a popular risk assessment tool in many fields. Although risk matrix is usually treated as qualitative tool, this book conducts the analysis from the quantitative perspective. The discussed content belongs to the scope of risk management, and to be more specific, it is related to quick risk assessment. This book is suitable for the researchers and practitioners related to qualitative or quick risk assessment and highly helps readers understanding how to design more convincing risk assessment tools and do more accurate risk assessment in a uncertain context.
Econometrics Of Risk
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Author : Van-Nam Huynh
language : en
Publisher: Springer
Release Date : 2014-12-15
Econometrics Of Risk written by Van-Nam Huynh and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-12-15 with Technology & Engineering categories.
This edited book contains several state-of-the-art papers devoted to econometrics of risk. Some papers provide theoretical analysis of the corresponding mathematical, statistical, computational, and economical models. Other papers describe applications of the novel risk-related econometric techniques to real-life economic situations. The book presents new methods developed just recently, in particular, methods using non-Gaussian heavy-tailed distributions, methods using non-Gaussian copulas to properly take into account dependence between different quantities, methods taking into account imprecise ("fuzzy") expert knowledge, and many other innovative techniques. This versatile volume helps practitioners to learn how to apply new techniques of econometrics of risk, and researchers to further improve the existing models and to come up with new ideas on how to best take into account economic risks.
Market Risk Analysis
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Author : Carol Alexander
language : en
Publisher:
Release Date : 2008
Market Risk Analysis written by Carol Alexander and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008 with Financial risk management categories.
Insurance Economics
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Author : Peter Zweifel
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-02-24
Insurance Economics written by Peter Zweifel and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-02-24 with Business & Economics categories.
"Winner of the 2014 Kulp-Wright Book Award Presented by the American Risk and Insurance Association". More information can be found here: http://www.aria.org/awards/bookawards.htm Insurance Economics brings together the economic analysis of decision making under risk, risk management and demand for insurance by individuals and corporations, objectives pursued and management tools used by insurance companies, the regulation of insurance, and the division of labor between private and social insurance. Appropriete both for advanced undergraduate and graduate students of economics, management, and finance, this text provides the background required to understand current research. Predictions derived from theoretical argument are not only stated but confronted with empirical evidence. Throughout the book, conclusions summarize results, helping readers to check their knowledge and understanding. Issues discussed include paradoxa in decision making under risk, selection of favorable risks by insurers, the possibility of a "death spiral" in insurance markets, and future challenges such as re-regulation in the wake of the 2007-09 financial crisis and the increasing availability of generic information.
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.
