The Economics Of Risk And Time
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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.
The Economics Of Risk And Uncertainty
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Author : Christian Gollier
language : en
Publisher:
Release Date : 2018
The Economics Of Risk And Uncertainty written by Christian Gollier and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Risk categories.
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
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.
Financial Economics Risk And Information 2nd Edition
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Author : Bianconi Marcelo
language : en
Publisher: World Scientific Publishing Company
Release Date : 2011-11-29
Financial Economics Risk And Information 2nd Edition written by Bianconi Marcelo and has been published by World Scientific Publishing Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-11-29 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.
Risk Uncertainty And Profit
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Author : Frank H. Knight
language : en
Publisher: Cosimo, Inc.
Release Date : 2006-11-01
Risk Uncertainty And Profit written by Frank H. Knight and has been published by Cosimo, Inc. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-11-01 with Business & Economics categories.
A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot eliminate profits, the important differences between "risk" and "uncertainty," and the vital role of the entrepreneur in profitmaking. Based on Knight's PhD dissertation, this 1921 work, balancing theory with fact to come to stunning insights, is a distinct pleasure to read. FRANK H. KNIGHT (1885-1972) is considered by some the greatest American scholar of economics of the 20th century. An economics professor at the University of Chicago from 1927 until 1955, he was one of the founders of the Chicago school of economics, which influenced Milton Friedman and George Stigler.
The Economics Of Risk And Uncertainty
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Author : Christian Gollier
language : en
Publisher: Edward Elgar Publishing
Release Date : 2018
The Economics Of Risk And Uncertainty written by Christian Gollier and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018 with Risk categories.
The compilation of ground-breaking papers contained in this collection offers a complete description of the evolution of knowledge in the economics of risk and time, from its early twentieth-century explorations to its current diversity of approaches. The papers focus first on the basic decisions under uncertainty, and then on asset pricing. They cover both classical expected utility approach and its non-expected utility generalizations, with applications to dynamic portfolio choices, insurance, risk sharing, and risk prevention. Prefaced by an original introduction from the editor, this collection will be valuable for scholars in finance and macroeconomics, particularly those with an interest in the modeling foundations of consumer and investor decisions under uncertainty.
Behavioural Economics A Very Short Introduction
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Author : Michelle Baddeley
language : en
Publisher: Oxford University Press
Release Date : 2017-01-19
Behavioural Economics A Very Short Introduction written by Michelle Baddeley and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-19 with Business & Economics categories.
Traditionally economists have based their economic predictions on the assumption that humans are super-rational creatures, using the information we are given efficiently and generally making selfish decisions that work well for us as individuals. Economists also assume that we're doing the very best we can possibly do - not only for today, but over our whole lifetimes too. But increasingly the study of behavioural economics is revealing that our lives are not that simple. Instead, our decisions are complicated by our own psychology. Each of us makes mistakes every day. We don't always know what's best for us and, even if we do, we might not have the self-control to deliver on our best intentions. We struggle to stay on diets, to get enough exercise and to manage our money. We misjudge risky situations. We are prone to herding: sometimes peer pressure leads us blindly to copy others around us; other times copying others helps us to learn quickly about new, unfamiliar situations. This Very Short Introduction explores the reasons why we make irrational decisions; how we decide quickly; why we make mistakes in risky situations; our tendency to procrastination; and how we are affected by social influences, personality, mood and emotions. The implications of understanding the rationale for our own financial behaviour are huge. Behavioural economics could help policy-makers to understand the people behind their policies, enabling them to design more effective policies, while at the same time we could find ourselves assaulted by increasingly savvy marketing. Michelle Baddeley concludes by looking forward, to see what the future of behavioural economics holds for us. ABOUT THE SERIES: The Very Short Introductions series from Oxford University Press contains hundreds of titles in almost every subject area. These pocket-sized books are the perfect way to get ahead in a new subject quickly. Our expert authors combine facts, analysis, perspective, new ideas, and enthusiasm to make interesting and challenging topics highly readable.
The Economics Of Continuous Time Finance
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Author : Bernard Dumas
language : en
Publisher: MIT Press
Release Date : 2017-10-27
The Economics Of Continuous Time Finance written by Bernard Dumas and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-10-27 with Business & Economics categories.
An introduction to economic applications of the theory of continuous-time finance that strikes a balance between mathematical rigor and economic interpretation of financial market regularities. This book introduces the economic applications of the theory of continuous-time finance, with the goal of enabling the construction of realistic models, particularly those involving incomplete markets. Indeed, most recent applications of continuous-time finance aim to capture the imperfections and dysfunctions of financial markets—characteristics that became especially apparent during the market turmoil that started in 2008. The book begins by using discrete time to illustrate the basic mechanisms and introduce such notions as completeness, redundant pricing, and no arbitrage. It develops the continuous-time analog of those mechanisms and introduces the powerful tools of stochastic calculus. Going beyond other textbooks, the book then focuses on the study of markets in which some form of incompleteness, volatility, heterogeneity, friction, or behavioral subtlety arises. After presenting solutions methods for control problems and related partial differential equations, the text examines portfolio optimization and equilibrium in incomplete markets, interest rate and fixed-income modeling, and stochastic volatility. Finally, it presents models where investors form different beliefs or suffer frictions, form habits, or have recursive utilities, studying the effects not only on optimal portfolio choices but also on equilibrium, or the price of primitive securities. The book strikes a balance between mathematical rigor and the need for economic interpretation of financial market regularities, although with an emphasis on the latter.
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.