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Author : Simon Grant
Publisher :
ISBN 13 :
Total Pages : 32 pages
Book Rating : 4.:/5 (318 download)
Download or read book AUSI Expected Utility written by Simon Grant and published by . This book was released on 1994 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Flavio M. Menezes
Publisher :
ISBN 13 :
Total Pages : 694 pages
Book Rating : 4.:/5 (31 download)
Download or read book AUSI Expected Utility written by Flavio M. Menezes and published by . This book was released on 19?? with total page 694 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Christian Gollier
Publisher : Springer Science & Business Media
ISBN 13 : 9401724407
Total Pages : 147 pages
Book Rating : 4.4/5 (17 download)
Download or read book Non-Expected Utility and Risk Management written by Christian Gollier and published by Springer Science & Business Media. This book was released on 2013-03-14 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: Expected utility provides simple, testable properties of the optimum behavior that should be displayed by risk-averse individuals in risky decisions. Simultaneously, given the existence of paradoxes under the expected utility paradigm, expected utility can only be regarded as an approximation of actual behavior. A more realistic model is needed. This is particularly true when treating attitudes toward small probability events: the standard situation for insurable risks. Non-Expected Utility and Risk Management examines whether the existing results in insurance economics are robust to more general models of behavior under risk.
Author : G. L. Hertzler
Publisher :
ISBN 13 :
Total Pages : 27 pages
Book Rating : 4.:/5 (221 download)
Download or read book Expected Utility Theory written by G. L. Hertzler and published by . This book was released on 1995 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : John Quiggin
Publisher : Springer Science & Business Media
ISBN 13 : 9780792393023
Total Pages : 234 pages
Book Rating : 4.3/5 (93 download)
Download or read book Generalized Expected Utility Theory written by John Quiggin and published by Springer Science & Business Media. This book was released on 1993 with total page 234 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic analysis of choice under uncertainty has been dominated by the expected utility (EU) model, yet the EU model has never been without critics. Psychologists accumulated evidence that individual choices under uncertainty were inconsistent with the predictions of the EU model. Applied work in areas such as finance was dominated by the simpler mean-variance analysis. In the 1980s this skepticism was dispelled as a number of generalizations of EU were proposed, most of which were capable of explaining evidence inconsistent with EU, while preserving transitivity and dominance. Generalized expected utility is now a flourishing subfield of economics, with dozens of competing models and considerable literature exploring their theoretical properties and comparing their empirical performance. But the EU model remains the principal tool for the analysis of choice under uncertainty. There is a view that generalized models are too difficult to handle or incapable of generating sharp results. This creates a need to show that the new models can be used in the kinds of economic analysis for which EU has been used, and that they can yield new and interesting results. This book meets this need by describing one of the most popular generalized models -- the rank-dependent expected utility model (RDEU), also known as anticipated utility, EU with rank-dependent preferences, the dual theory of choice under uncertainty, and simply as rank-dependent utility. As the many names indicate, the model has been approached in many ways by many scientists and for this reason, consideration of a single model sheds light on many of the concerns that have motivated the development of generalized utility models. The popularity of the RDEU model rests on its simplicity and tractability. The standard tools of analysis developed for EU theory may be applied to the RDEU model, but since RDEU admits behavior inconsistent with EU, the field of potential applications is widened. As such, the RDEU model is not as much a competitor to EU as an extension based on less restrictive assumptions.
Author : Andrew Caplin
Publisher :
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.3/5 ( download)
Download or read book Psychological Expected Utility Theory and Anticipatory Feelings written by Andrew Caplin and published by . This book was released on 1997 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Akihiko Matsui
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (318 download)
Download or read book Expected Utility and Case-based Reasoning written by Akihiko Matsui and published by . This book was released on 1994 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Shunji Osaki
Publisher : World Scientific
ISBN 13 : 9814552879
Total Pages : 628 pages
Book Rating : 4.8/5 (145 download)
Download or read book Stochastic Models In Engineering, Technology And Management - Proceedings Of The Australia-japan Workshop written by Shunji Osaki and published by World Scientific. This book was released on 1993-04-27 with total page 628 pages. Available in PDF, EPUB and Kindle. Book excerpt: The proceedings contain a range of papers dealing with different issues relating to the theme of the workshop. The majority of them deal with model formulation and model analysis. A few deal with mathematical techniques that are needed to carry out model analysis. Some of the papers are theoretical whilst others are applied. As a result, the topics covered in these papers highlight the multifaceted nature of stochastic modelling and diversity of the applications of stochastic models.
Author : John Quiggin
Publisher : Springer Science & Business Media
ISBN 13 : 9401121826
Total Pages : 208 pages
Book Rating : 4.4/5 (11 download)
Download or read book Generalized Expected Utility Theory written by John Quiggin and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic analysis of choice under uncertainty has been dominated by the expected utility (EU) model, yet the EU model has never been without critics. Psychologists accumulated evidence that individual choices under uncertainty were inconsistent with the predictions of the EU model. Applied work in areas such as finance was dominated by the simpler mean-variance analysis. In the 1980s this skepticism was dispelled as a number of generalizations of EU were proposed, most of which were capable of explaining evidence inconsistent with EU, while preserving transitivity and dominance. Generalized expected utility is now a flourishing subfield of economics, with dozens of competing models and considerable literature exploring their theoretical properties and comparing their empirical performance. But the EU model remains the principal tool for the analysis of choice under uncertainty. There is a view that generalized models are too difficult to handle or incapable of generating sharp results. This creates a need to show that the new models can be used in the kinds of economic analysis for which EU has been used, and that they can yield new and interesting results. This book meets this need by describing one of the most popular generalized models -- the rank-dependent expected utility model (RDEU), also known as anticipated utility, EU with rank-dependent preferences, the dual theory of choice under uncertainty, and simply as rank-dependent utility. As the many names indicate, the model has been approached in many ways by many scientists and for this reason, consideration of a single model sheds light on many of the concerns that have motivated the development of generalized utility models. The popularity of the RDEU model rests on its simplicity and tractability. The standard tools of analysis developed for EU theory may be applied to the RDEU model, but since RDEU admits behavior inconsistent with EU, the field of potential applications is widened. As such, the RDEU model is not as much a competitor to EU as an extension based on less restrictive assumptions.
Author : L. Daboni
Publisher : Springer Science & Business Media
ISBN 13 : 9400946163
Total Pages : 402 pages
Book Rating : 4.4/5 (9 download)
Download or read book Recent Developments in the Foundations of Utility and Risk Theory written by L. Daboni and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Second International Conference on Foundations of Utility and Risk Theory was held in Venice, June 1984. This volume presents some of the papers delivered at FUR-84. (The First International Conference, FUR-82, was held in Oslo and some of the papers presented on that occasion were published by Reidel in the volume Foundations of Utility and Risk Theory with Applications, edited by Bernt P. Stigum and Fred Wenst~p). The theory of choice under uncertainty involves a vast range of controversial issues in many fields like economics, philosophy, psychology, mathematics and statistics. The idea of discussing these problems in international conferences has been successful: two conferences have been held and others will follow. The climate of the debate has changed in the meantime, partly as a result of these conferences. It is no more only a question of attacking or defending the neo-Bernoullian assumptions, but also of proposing wider generalizations and including new elements in the analysis of the decision process. For instance Amartya Sen - comparing the two current notions of rationality, internal consistency and self-interest pursuit introduces the concept of reasoning and considers the irrationality which may result from the failure of a positive correspondence between reasoning and choice or from a limited capacity of reasoning. Rationality is also considered with respect to the controversial axiom of strong independence. John C. Harsanyi introduces the concept of practical certainty, i. e.
Author : Malcolm Abbott
Publisher : Oxford University Press
ISBN 13 : 0198865066
Total Pages : 404 pages
Book Rating : 4.1/5 (988 download)
Download or read book Utilities Reform in Twenty-First Century Australia written by Malcolm Abbott and published by Oxford University Press. This book was released on 2021 with total page 404 pages. Available in PDF, EPUB and Kindle. Book excerpt: Utilities Reform in 21st Century Australia: Providing the Essentials traces the development and consequences of the economic reform measures undertaken in the utilities sector in Australia (communications, energy, water/wastewater services, and transport) in the last years of the 20th century, and early decades of the 21st century. In doing so, it looks at the process of reform across industries, and across the state and federal jurisdictions, to identify what motivations the various governments had for pursing reform, how change varied across jurisdictions, and what issues arose in the process. Although by the mid-1990s all states and territories and the Australian Government were committed to reforming utilities as part of the National Competition Policy, not all pursued this reform with the same degree of speed and breadth of action. The broad trends of economic reform in Australia, and abroad, are also touched upon, to provide an outline of the wider context in which the reform of the utilities occurred. This book, therefore, explores the relationship between politics and society on the one hand and economic reform on the other; as well on as the efforts of governments in Australia to promote economic growth and the wealth of Australians in an increasingly complex and challenging global economic climate.
Author : Larry S. Temkin
Publisher : Oxford University Press
ISBN 13 : 0192849972
Total Pages : 421 pages
Book Rating : 4.1/5 (928 download)
Download or read book Being Good in a World of Need written by Larry S. Temkin and published by Oxford University Press. This book was released on 2022-01-27 with total page 421 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Ours is a rich world filled with misery. This gives rise to a pressing question: how should the well-off respond to the needy? Peter Singer famously argued that just as we have an obligation to save a drowning child, we have an obligation to support charities like Oxfam. Inspired by Singer, Effective Altruism holds that we ought to support those charities doing the most good. Being Good in a World of Need powerfully challenges these views. Drawing on many sources, Temkin illustrates many disanalogies between saving a drowning child and supporting international charities, involving: intervening agents; effects of one's actions; corruption; responsibility; accidents versus injustice; and aid beneficiaries. These disanalogies raise complex issues requiring a pluralistic approach, rather than Effective Altruism's monistic, "do the most good" approach. Being Good discusses: ways aid may reward corrupt leaders and incentivize disastrous policies; charities ignoring or covering up negative impacts; the ethical disaster of aid efforts in Goma; brain and character drains; difficulties in replicability or scaling up model aid projects; ethical imperialism, paternalism, autonomy, and respect; Angus Deaton's contention that aid undermines government responsiveness; Jeffrey Sachs and the Millennium Villages Project; conflicts between individual and collective morality; fairness and responsibility; focusing on badly off people rather than countries; humanitarian versus development aid; and ways of aiding other than on-the-ground charities"--
Author : Nicholas Linacre, Jose Falck-Zepeda, John Komen, and Donald MacLaren
Publisher : Intl Food Policy Res Inst
ISBN 13 :
Total Pages : 39 pages
Book Rating : 4./5 ( download)
Download or read book Risk Assessment and Management of Genetically Modified Organisms Under Australia's Gene Technology Act written by Nicholas Linacre, Jose Falck-Zepeda, John Komen, and Donald MacLaren and published by Intl Food Policy Res Inst. This book was released on with total page 39 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Shichao Zhang
Publisher : Springer Science & Business Media
ISBN 13 : 3540304622
Total Pages : 1369 pages
Book Rating : 4.5/5 (43 download)
Download or read book AI 2005: Advances in Artificial Intelligence written by Shichao Zhang and published by Springer Science & Business Media. This book was released on 2005-11-21 with total page 1369 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book constitutes the refereed proceedings of the 18th Australian Joint Conference on Artificial Intelligence, AI 2005, held in Sydney, Australia in December 2005. The 77 revised full papers and 119 revised short papers presented together with the abstracts of 3 keynote speeches were carefully reviewed and selected from 535 submissions. The papers are catgorized in three broad sections, namely: AI foundations and technologies, computational intelligence, and AI in specialized domains. Particular topics addressed by the papers are logic and reasoning, machine learning, game theory, robotic technology, data mining, neural networks, fuzzy theory and algorithms, evolutionary computing, Web intelligence, decision making, pattern recognition, agent technology, and AI applications.
Author : David A. Hensher
Publisher : Elsevier
ISBN 13 : 0128201320
Total Pages : 526 pages
Book Rating : 4.1/5 (282 download)
Download or read book Bus Transport written by David A. Hensher and published by Elsevier. This book was released on 2020-05-01 with total page 526 pages. Available in PDF, EPUB and Kindle. Book excerpt: Bus Transport: Demand, Economics, Contracting, and Policy examines in one source the most critical and current research themes of public transport relevant to regulators, planners, operators, researchers and educators. It highlights the wider economic impacts of public transport and compares energy usage across all public transport modes. The book examines the evolving debate on Mobility as a Service (MaaS) and includes discussion of such themes as; public image issues, performance measurement and monitoring, contract procurement and design models, travel choice and demand, and global public transport reform. The book reflects the leading perspectives on the preservation and health of the bus sector, intending to move public transport reform forward. Compiles in one source up-to-date insights on important public transport themes, issues, and debates Examines a wide range of public transport topics in the multidisciplinary fields of economics, policy, operations, and planning Bridges the gap between scientific research and policy implementation
Author : Paul Weirich
Publisher : Cambridge University Press
ISBN 13 : 131624072X
Total Pages : 277 pages
Book Rating : 4.3/5 (162 download)
Download or read book Models of Decision-Making written by Paul Weirich and published by Cambridge University Press. This book was released on 2015-02-05 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: Classical decision theory evaluates entire worlds, specified so as to include everything a decision-maker cares about. Thus applying decision theory requires performing computations far beyond an ordinary decision-maker's ability. In this book Paul Weirich explains how individuals can simplify and streamline their choices. He shows how different 'parts' of options (intrinsic, temporal, spatiotemporal, causal) are separable, so that we can know what difference one part makes to the value of an option, regardless of what happens in the other parts. He suggests that the primary value of options is found in basic intrinsic attitudes towards outcomes: desires, aversions, or indifferences. And using these two facts he argues that we need only compare small parts of the options we face in order to make a rational decision. This important book will interest readers in decision theory, economics, and the behavioral sciences.
Author : David Peel
Publisher : Routledge
ISBN 13 : 131798823X
Total Pages : 130 pages
Book Rating : 4.3/5 (179 download)
Download or read book Economics of Betting Markets written by David Peel and published by Routledge. This book was released on 2013-09-13 with total page 130 pages. Available in PDF, EPUB and Kindle. Book excerpt: During the last few decades, commercial gambling has increased substantially throughout the Western world. More people than ever before have access to sources of legalised gambling, leading to bumper revenues for the institutions involved. Naturally enough, this has led to an increased interest in the area of the economics of betting. This book addresses the issues raised by the continued growth of the gambling sector. How can we model the behaviour of people who seemingly act irrationally? What are the implications of different tax policies with regard to gambling? Are casinos capable of taking money away from state-run lotteries and the causes they fund? Can bookmakers’ odds be influenced in such a way as to make the gambling market inefficient? The authors in this volume provide insights based on data from many different countries, including England, the USA, Australia, Spain and Cyprus. This volume brings together work which addresses the economic impact of the huge growth of commercial gambling in the Western world, as well as trying to model the cognitive processes which can explain why individuals are prepared to behave in such apparently irrational ways. This book was published as a special issue of Applied Economics. The academic editor of this journal is Mark P. Taylor.
