Uncertainty Risk And Information
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Uncertainty Risk And Information
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Author : Giacomo Bonanno
language : en
Publisher:
Release Date : 2019-12-12
Uncertainty Risk And Information written by Giacomo Bonanno and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-12 with categories.
This textbook incorporates the author's previous book "The Economics of Uncertainty and Insurance" and extends it with the addition of several new chapters on risk sharing, asymmetric information, adverse selection, signaling and moral hazard. It provides a comprehensive introduction to the analysis of economic decisions under uncertainty and to the role of asymmetric information in contractual relationships. It is richly illustrated with 150 figures. It is suitable for both self-study and as the basis for an upper-division undergraduate course. The book is written to be accessible to anyone with minimum knowledge of calculus, in particular the ability to calculate the (partial) derivative of a function of one or two variables. The book contains a total of 150 fully solved exercises.
Risk And Uncertainty In A Post Truth Society
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Author : Sander van der Linden
language : en
Publisher: Routledge
Release Date : 2019-06-10
Risk And Uncertainty In A Post Truth Society written by Sander van der Linden and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-06-10 with Business & Economics categories.
This edited volume looks at whether it is possible to be more transparent about uncertainty in scientific evidence without undermining public understanding and trust. With contributions from leading experts in the field, this book explores the communication of risk and decision-making in an increasingly post-truth world. Drawing on case studies from climate change to genetic testing, the authors argue for better quality evidence synthesis to cut through the noise and highlight the need for more structured public dialogue. For uncertainty in scientific evidence to be communicated effectively, they conclude that trustworthiness is vital: the data and methods underlying statistics must be transparent, valid, and sound, and the numbers need to demonstrate practical utility and add social value to people’s lives. Presenting a conceptual framework to help navigate the reader through the key social and scientific challenges of a post-truth era, this book will be of great relevance to students, scholars, and policy makers with an interest in risk analysis and communication.
Risk And Uncertainty
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Author : K. Borch
language : en
Publisher: Springer
Release Date : 1968-01-15
Risk And Uncertainty written by K. Borch and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 1968-01-15 with Business & Economics categories.
Advances In Decision Making Under Risk And Uncertainty
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Author : Mohammed Abdellaoui
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-08-29
Advances In Decision Making Under Risk And Uncertainty written by Mohammed Abdellaoui 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 2008-08-29 with Business & Economics categories.
Whether we like it or not we all feel that the world is uncertain. From choosing a new technology to selecting a job, we rarely know in advance what outcome will result from our decisions. Unfortunately, the standard theory of choice under uncertainty developed in the early forties and fifties turns out to be too rigid to take many tricky issues of choice under uncertainty into account. The good news is that we have now moved away from the early descriptively inadequate modeling of behavior. This book brings the reader into contact with the accomplished progress in individual decision making through the most recent contributions to uncertainty modeling and behavioral decision making. It also introduces the reader into the many subtle issues to be resolved for rational choice under uncertainty.
Managing Risk And Uncertainty
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Author : Richard Friberg
language : en
Publisher: MIT Press
Release Date : 2015-11-13
Managing Risk And Uncertainty written by Richard Friberg and has been published by MIT Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-11-13 with Business & Economics categories.
A comprehensive framework for assessing strategies for managing risk and uncertainty, integrating theory and practice and synthesizing insights from many fields. 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 under uncertainty, with a particular focus on strategic interaction. It also examines the implications of incomplete markets for managing under uncertainty. It presents four core strategies: a benchmark strategy (proceeding as if risk and uncertainty were low), a financial hedging strategy (valuable if there is much risk), an operational hedging strategy (valuable for conditions of much uncertainty), and a flexible strategy (valuable if there is much risk and/or uncertainty). The book then examines various aspects of these strategies in greater depth, building on empirical work in several different fields. Topics include price-setting, real options and Monte Carlo techniques, organizational structure, and behavioral biases. Many chapters include exercises and appendixes with additional material. The book can be used in graduate or advanced undergraduate courses in risk management, as a guide for researchers, or as a reference for management practitioners.
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.
New Economics Of Risk And Uncertainty
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Author : Moawia Alghalith
language : en
Publisher: Nova Publishers
Release Date : 2007
New Economics Of Risk And Uncertainty written by Moawia Alghalith and has been published by Nova Publishers this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Business & Economics categories.
Presents an alternative theoretical framework that can serve as the basis for a new age of economic analysis under risk and uncertainty. This work features an endogenous theory that overcomes the major shortcomings of both the expected utility and the rank-dependent models while it possesses the merits of both.
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
The Analytics Of Uncertainty And Information
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Author : Jack Hirshleifer
language : en
Publisher: Cambridge University Press
Release Date : 1992-09-10
The Analytics Of Uncertainty And Information written by Jack Hirshleifer 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 1992-09-10 with Business & Economics categories.
Economists have always recognised that human endeavours are constrained by our limited and uncertain knowledge, but only recently has an accepted theory of uncertainty and information evolved. This theory has turned out to have surprisingly practical applications: for example in analysing stock market returns, in evaluating accident prevention measures, and in assessing patent and copyright laws. This book presents these intellectual advances in readable form for the first time. It unifies many important but partial results into a satisfying single picture, making it clear how the economics of uncertainty and information generalises and extends standard economic analysis. Part One of the volume covers the economics of uncertainty: how each person adapts to a given fixed state of knowledge by making an optimal choice among the immediate 'terminal' actions available. These choices in turn determine the overall market equilibrium reflecting the social distribution of risk bearing. In Part Two, covering the economics of information, the state of knowledge is no longer held fixed. Instead, individuals can to a greater or lesser extent overcome their ignorance by 'informational' actions. The text also addresses at appropriate points many specific topics such as insurance, the Capital Asset Pricing model, auctions, deterrence of entry, and research and invention.