Information Gaps For Risk And Ambiguity

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Risk-Sharing Finance

Author : Saad Bakkali
Publisher : Walter de Gruyter GmbH & Co KG
ISBN 13 : 3110593432
Total Pages : 141 pages
Book Rating : 4.1/5 (15 download)

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Book Synopsis Risk-Sharing Finance by : Saad Bakkali

Download or read book Risk-Sharing Finance written by Saad Bakkali and published by Walter de Gruyter GmbH & Co KG. This book was released on 2021-05-10 with total page 141 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contemporary finance deals mainly with multilateral and multi-counterparty transactions. Islamic Jurisprudence (Fiqh) has yet to develop its conceptualization of this modality of financing. Thus far, it has become a norm for large financing projects to rely on a complex structure of interconnected bilateral contracts that in totality becomes opaque, complex and costly. An unfortunate result of the unavailability of an efficient Fiqhi model applicable to modern multilateral and multi-counterparty contracts has been the fact that the present Islamic finance has been forced to replicate conventional risk-transfer (interest rate based) debt contracts thus drawing severe criticisms of duplicating conventional finance. In 2012, a gathering of some of the Muslim world’s most prominent experts in Jurisprudence (Fuqaha) and economists issued the Kuala Lumpur Declaration (Fatwa) in which they identified risk sharing as the essence of Islamic finance. The Declaration opened the door for a new Fiqh approach to take the lead in developing the jurisprudence of multilateral and multi-counterparty transactions. This Declaration (Fatwa) provides a prime motivation to search for a comprehensive model of risk sharing that can serve as an archetypal contract encompassing all potential contemporary financial transactions. From the perspective of Islamic Jurisprudence (Fiqh), the technicalities of the concept of risk sharing in contemporary finance have yet to be defined in Islamic literature. This book attempts to clarify and shed light on these technicalities from the perspective of Fiqh. It is a comprehensive study that relies on the fundamental Islamic sources to establish a theoretical and practical perspective of Fiqh encompassing risk-sharing Islamic finance as envisioned in the Kuala Lumpur Declaration of 2012. This new paradigm should lead to a more efficient approach to multilateral and multi-counterparty Islamic contracts which, here-to-fore has been lacking in the current configuration of Islamic finance.

Rational Decisions

Author : Ken Binmore
Publisher : Princeton University Press
ISBN 13 : 1400833094
Total Pages : 214 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis Rational Decisions by : Ken Binmore

Download or read book Rational Decisions written by Ken Binmore and published by Princeton University Press. This book was released on 2008-12-29 with total page 214 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is widely held that Bayesian decision theory is the final word on how a rational person should make decisions. However, Leonard Savage--the inventor of Bayesian decision theory--argued that it would be ridiculous to use his theory outside the kind of small world in which it is always possible to "look before you leap." If taken seriously, this view makes Bayesian decision theory inappropriate for the large worlds of scientific discovery and macroeconomic enterprise. When is it correct to use Bayesian decision theory--and when does it need to be modified? Using a minimum of mathematics, Rational Decisions clearly explains the foundations of Bayesian decision theory and shows why Savage restricted the theory's application to small worlds. The book is a wide-ranging exploration of standard theories of choice and belief under risk and uncertainty. Ken Binmore discusses the various philosophical attitudes related to the nature of probability and offers resolutions to paradoxes believed to hinder further progress. In arguing that the Bayesian approach to knowledge is inadequate in a large world, Binmore proposes an extension to Bayesian decision theory--allowing the idea of a mixed strategy in game theory to be expanded to a larger set of what Binmore refers to as "muddled" strategies. Written by one of the world's leading game theorists, Rational Decisions is the touchstone for anyone needing a concise, accessible, and expert view on Bayesian decision making.

Info-Gap Decision Theory

Author : Yakov Ben-Haim
Publisher : Elsevier
ISBN 13 : 0080465706
Total Pages : 385 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis Info-Gap Decision Theory by : Yakov Ben-Haim

Download or read book Info-Gap Decision Theory written by Yakov Ben-Haim and published by Elsevier. This book was released on 2006-10-11 with total page 385 pages. Available in PDF, EPUB and Kindle. Book excerpt: Everyone makes decisions, but not everyone is a decision analyst. A decision analyst uses quantitative models and computational methods to formulate decision algorithms, assess decision performance, identify and evaluate options, determine trade-offs and risks, evaluate strategies for investigation, and so on. Info-Gap Decision Theory is written for decision analysts. The term "decision analyst" covers an extremely broad range of practitioners. Virtually all engineers involved in design (of buildings, machines, processes, etc.) or analysis (of safety, reliability, feasibility, etc.) are decision analysts, usually without calling themselves by this name. In addition to engineers, decision analysts work in planning offices for public agencies, in project management consultancies, they are engaged in manufacturing process planning and control, in financial planning and economic analysis, in decision support for medical or technological diagnosis, and so on and on. Decision analysts provide quantitative support for the decision-making process in all areas where systematic decisions are made. This second edition entails changes of several sorts. First, info-gap theory has found application in several new areas - especially biological conservation, economic policy formulation, preparedness against terrorism, and medical decision-making. Pertinent new examples have been included. Second, the combination of info-gap analysis with probabilistic decision algorithms has found wide application. Consequently "hybrid" models of uncertainty, which were treated exclusively in a separate chapter in the previous edition, now appear throughout the book as well as in a separate chapter. Finally, info-gap explanations of robust-satisficing behavior, and especially the Ellsberg and Allais "paradoxes", are discussed in a new chapter together with a theorem indicating when robust-satisficing will have greater probability of success than direct optimizing with uncertain models. - New theory developed systematically - Many examples from diverse disciplines - Realistic representation of severe uncertainty - Multi-faceted approach to risk - Quantitative model-based decision theory

Science and Judgment in Risk Assessment

Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 030904894X
Total Pages : 668 pages
Book Rating : 4.3/5 (9 download)

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Book Synopsis Science and Judgment in Risk Assessment by : National Research Council

Download or read book Science and Judgment in Risk Assessment written by National Research Council and published by National Academies Press. This book was released on 1994-01-01 with total page 668 pages. Available in PDF, EPUB and Kindle. Book excerpt: The public depends on competent risk assessment from the federal government and the scientific community to grapple with the threat of pollution. When risk reports turn out to be overblownâ€"or when risks are overlookedâ€"public skepticism abounds. This comprehensive and readable book explores how the U.S. Environmental Protection Agency (EPA) can improve its risk assessment practices, with a focus on implementation of the 1990 Clean Air Act Amendments. With a wealth of detailed information, pertinent examples, and revealing analysis, the volume explores the "default option" and other basic concepts. It offers two views of EPA operations: The first examines how EPA currently assesses exposure to hazardous air pollutants, evaluates the toxicity of a substance, and characterizes the risk to the public. The second, more holistic, view explores how EPA can improve in several critical areas of risk assessment by focusing on cross-cutting themes and incorporating more scientific judgment. This comprehensive volume will be important to the EPA and other agencies, risk managers, environmental advocates, scientists, faculty, students, and concerned individuals.

The Cognitive Science of Belief

Author : Julien Musolino
Publisher : Cambridge University Press
ISBN 13 : 1009007475
Total Pages : 627 pages
Book Rating : 4.0/5 (9 download)

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Book Synopsis The Cognitive Science of Belief by : Julien Musolino

Download or read book The Cognitive Science of Belief written by Julien Musolino and published by Cambridge University Press. This book was released on 2022-11-17 with total page 627 pages. Available in PDF, EPUB and Kindle. Book excerpt: Beliefs play a central role in our lives. They lie at the heart of what makes us human, they shape the organization and functioning of our minds, they define the boundaries of our culture, and they guide our motivation and behavior. Given their central importance, researchers across a number of disciplines have studied beliefs, leading to results and literatures that do not always interact. The Cognitive Science of Belief aims to integrate these disconnected lines of research to start a broader dialogue on the nature, role, and consequences of beliefs. It tackles timeless questions, as well as applications of beliefs that speak to current social issues. This multidisciplinary approach to beliefs will benefit graduate students and researchers in cognitive science, psychology, philosophy, political science, economics, and religious studies.

Advances in Experimental Social Psychology

Author : Bertram Gawronski
Publisher : Academic Press
ISBN 13 : 0323990797
Total Pages : 290 pages
Book Rating : 4.3/5 (239 download)

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Book Synopsis Advances in Experimental Social Psychology by : Bertram Gawronski

Download or read book Advances in Experimental Social Psychology written by Bertram Gawronski and published by Academic Press. This book was released on 2022-03-04 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Advances in Experimental Social Psychology series is the premier outlet for reviews of mature, high-impact research programs in social psychology. Contributions to the series provide defining pieces of established research programs, reviewing and integrating thematically related findings by individual scholars or research groups. Topics discussed in Volume 65 include Cross-Group Friendship, Construal of Power, Political Ideology and Social Categorization, Disgust and Social Judgment, and Effects of Testosterone on Close Relationships. - Provides one of the most cited series in the field of experimental social psychology - Contains contributions of major empirical and theoretical interest - Represents the best and brightest in new research, theory and practice in social psychology

Risk, Ambiguity and Decision

Author : Daniel Ellsberg
Publisher : Routledge
ISBN 13 : 1136711988
Total Pages : 336 pages
Book Rating : 4.1/5 (367 download)

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Book Synopsis Risk, Ambiguity and Decision by : Daniel Ellsberg

Download or read book Risk, Ambiguity and Decision written by Daniel Ellsberg and published by Routledge. This book was released on 2015-07-03 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Ellsberg elaborates on "Risk, Ambiguity, and the Savage Axioms" and mounts a powerful challenge to the dominant theory of rational decision in this book.

Behavioural Economics and Policy for Pandemics

Author : Joan Costa-Font
Publisher : Cambridge University Press
ISBN 13 : 100943845X
Total Pages : 451 pages
Book Rating : 4.0/5 (94 download)

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Book Synopsis Behavioural Economics and Policy for Pandemics by : Joan Costa-Font

Download or read book Behavioural Economics and Policy for Pandemics written by Joan Costa-Font and published by Cambridge University Press. This book was released on 2024-05-02 with total page 451 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavioural economics and behavioural public policy have been fundamental parts of governmental responses to the Covid-19 pandemic. This was not only the case at the beginning of the pandemic as governments pondered how to get people to follow restrictions, but also during delivery of the vaccination programme. Behavioural Economics and Policy for Pandemics brings together a world-class line-up of experts to examine the successes and failures of behavioural economics and policy in relation to the Covid-19 pandemic. It documents how people changed their behaviours and use of health care and discusses what we can learn in terms of addressing future pandemics. Featuring high-profile behavioural economists such as George Loewenstein, this book uniquely uncovers behavioural regularities that emerge in the different waves of COVID-19 and documents how pandemics change our lives.

Value Assumptions in Risk Assessment

Author : Conrad G. Brunk
Publisher : Wilfrid Laurier Univ. Press
ISBN 13 : 0889208735
Total Pages : 168 pages
Book Rating : 4.8/5 (892 download)

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Book Synopsis Value Assumptions in Risk Assessment by : Conrad G. Brunk

Download or read book Value Assumptions in Risk Assessment written by Conrad G. Brunk and published by Wilfrid Laurier Univ. Press. This book was released on 2006-01-01 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Selected by Choice as one of the outstanding publications for 1991. Are risk debates disputes between those who accept the findings of science and those who do not? Between good and bad science? Or is it possible that opposing assessments of risk, by scientific experts as well as ordinary citizens, reflect and are guided by dominant values held by the assessors? The following analysis of one of these debates supports the latter view. In it we suggest what those dominant values are, how they work within a risk assessment, and some implications of reconceiving risk debates as primarily debates about values.

Consumer Behaviour

Author : Zubin Sethna
Publisher : SAGE
ISBN 13 : 1529786223
Total Pages : 793 pages
Book Rating : 4.5/5 (297 download)

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Book Synopsis Consumer Behaviour by : Zubin Sethna

Download or read book Consumer Behaviour written by Zubin Sethna and published by SAGE. This book was released on 2023-04-14 with total page 793 pages. Available in PDF, EPUB and Kindle. Book excerpt: Informal yet academically rigorous in style, this fun and attractively laid out textbook continues to provide a comprehensive introduction to Consumer Behaviour, drawing on an accessible writing style, engaging examples and a wealth of learning features throughout. The text is balanced in its coverage of both psychological and sociological aspects of consumer behaviour, and examples of consumer behaviour are selected from around the globe, including many of the world’s most popular brands and also B2B companies. This new edition has been fully updated to cover the impacts of the Covid-19 pandemic on consumer behaviour as well as the ongoing effects of technology, social media, digitalisation and climate change in adapting consumer behaviours. This textbook is essential reading for all students studying Consumer Behaviour. Zubin Sethna is a Professor of Entrepreneurial Marketing and Consumer Behaviour at Regent’s University London.

The Handbook of International Crisis Communication Research

Author : Andreas Schwarz
Publisher : John Wiley & Sons
ISBN 13 : 1118516788
Total Pages : 549 pages
Book Rating : 4.1/5 (185 download)

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Book Synopsis The Handbook of International Crisis Communication Research by : Andreas Schwarz

Download or read book The Handbook of International Crisis Communication Research written by Andreas Schwarz and published by John Wiley & Sons. This book was released on 2016-04-18 with total page 549 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of International Crisis Communication Research articulates a broader understanding of crisis communication, discussing the theoretical, methodological, and practical implications of domestic and transnational crises, featuring the work of global scholars from a range of sub-disciplines and related fields. Provides the first integrative international perspective on crisis communication Articulates a broader understanding of crisis communication, which includes work from scholars in journalism, public relations, audience research, psychology, political science, sociology, economics, anthropology, and international communication Explores the topic from cross-national and cross-cultural crisis communication approaches Includes research and scholars from countries around the world and representing all regions Discusses a broad range of crisis types, such as war, terrorism, natural disasters, pandemia, and organizational crises

The Emergent Knowledge Society and the Future of Higher Education

Author : Deane E. Neubauer
Publisher : Routledge
ISBN 13 : 1136507116
Total Pages : 316 pages
Book Rating : 4.1/5 (365 download)

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Book Synopsis The Emergent Knowledge Society and the Future of Higher Education by : Deane E. Neubauer

Download or read book The Emergent Knowledge Society and the Future of Higher Education written by Deane E. Neubauer and published by Routledge. This book was released on 2011-12-13 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt: The nature of higher education is by no means fixed: it has evolved over time; different models of higher education co-exist alongside each other at present; and, worldwide, there are demands for higher education to change to better help support economic growth and to better fit chagning social and economic circumstances. This book examines, from an Asian perspective, the debates about how higher education should change. It considers questions of funding, and of who will attend universities, and the fundamental question of what universities are for, especially as the three key funcations of universities - knowledge creation through research, knowledge dissemination through teaching and service, and knowledge conservation through libraries, the disciplinary structuring of knowledge and in other ways - are increasingly being carried out much more widely outside universities in the new "knowledge society". Throughout, the book discusses the extent to which the countries of East Asia are developing new models of higher education, thereby better preparing themselves for the "new "knowledge society", rather than simply following old Western models.

Entrepreneurial Action

Author : Andrew C. Corbett
Publisher : Emerald Group Publishing
ISBN 13 : 1780529015
Total Pages : 327 pages
Book Rating : 4.7/5 (85 download)

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Book Synopsis Entrepreneurial Action by : Andrew C. Corbett

Download or read book Entrepreneurial Action written by Andrew C. Corbett and published by Emerald Group Publishing. This book was released on 2012-07-17 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume 14 addresses the central issue of entrepreneurial action: while many factors are important to the phenomenon of entrepreneurship, entrepreneurship does not happen until someone takes action!

Improving Diagnosis in Health Care

Author : National Academies of Sciences, Engineering, and Medicine
Publisher : National Academies Press
ISBN 13 : 0309377722
Total Pages : 473 pages
Book Rating : 4.3/5 (93 download)

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Book Synopsis Improving Diagnosis in Health Care by : National Academies of Sciences, Engineering, and Medicine

Download or read book Improving Diagnosis in Health Care written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2015-12-29 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: Getting the right diagnosis is a key aspect of health care - it provides an explanation of a patient's health problem and informs subsequent health care decisions. The diagnostic process is a complex, collaborative activity that involves clinical reasoning and information gathering to determine a patient's health problem. According to Improving Diagnosis in Health Care, diagnostic errors-inaccurate or delayed diagnoses-persist throughout all settings of care and continue to harm an unacceptable number of patients. It is likely that most people will experience at least one diagnostic error in their lifetime, sometimes with devastating consequences. Diagnostic errors may cause harm to patients by preventing or delaying appropriate treatment, providing unnecessary or harmful treatment, or resulting in psychological or financial repercussions. The committee concluded that improving the diagnostic process is not only possible, but also represents a moral, professional, and public health imperative. Improving Diagnosis in Health Care, a continuation of the landmark Institute of Medicine reports To Err Is Human (2000) and Crossing the Quality Chasm (2001), finds that diagnosis-and, in particular, the occurrence of diagnostic errorsâ€"has been largely unappreciated in efforts to improve the quality and safety of health care. Without a dedicated focus on improving diagnosis, diagnostic errors will likely worsen as the delivery of health care and the diagnostic process continue to increase in complexity. Just as the diagnostic process is a collaborative activity, improving diagnosis will require collaboration and a widespread commitment to change among health care professionals, health care organizations, patients and their families, researchers, and policy makers. The recommendations of Improving Diagnosis in Health Care contribute to the growing momentum for change in this crucial area of health care quality and safety.

The Analytics of Uncertainty and Information

Author : Sushil Bikhchandani
Publisher : Cambridge University Press
ISBN 13 : 1107433762
Total Pages : 509 pages
Book Rating : 4.1/5 (74 download)

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Book Synopsis The Analytics of Uncertainty and Information by : Sushil Bikhchandani

Download or read book The Analytics of Uncertainty and Information written by Sushil Bikhchandani and published by Cambridge University Press. This book was released on 2013-08-12 with total page 509 pages. Available in PDF, EPUB and Kindle. Book excerpt: There has been explosive progress in the economic theory of uncertainty and information in the past few decades. This subject is now taught not only in departments of economics but also in professional schools and programs oriented toward business, government and administration, and public policy. This book attempts to unify the subject matter in a simple, accessible manner. Part I of the book focuses on the economics of uncertainty; Part II examines the economics of information. This revised and updated second edition places a greater focus on game theory. New topics include posted-price markets, mechanism design, common-value auctions, and the one-shot deviation principle for repeated games.

The Irrational Economist

Author : Erwann Michel-Kerjan
Publisher : Public Affairs
ISBN 13 : 1586487809
Total Pages : 338 pages
Book Rating : 4.5/5 (864 download)

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Book Synopsis The Irrational Economist by : Erwann Michel-Kerjan

Download or read book The Irrational Economist written by Erwann Michel-Kerjan and published by Public Affairs. This book was released on 2010-01-01 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: The authors explore how discoveries in decision sciences will enhance traditional ideas about economics and challenges the conventional wisdom about how to make the right decisions in an emerging new era, in a book that includes informative charts.

The Knowing-doing Gap

Author : Jeffrey Pfeffer
Publisher : Harvard Business Press
ISBN 13 : 9781578511242
Total Pages : 348 pages
Book Rating : 4.5/5 (112 download)

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Book Synopsis The Knowing-doing Gap by : Jeffrey Pfeffer

Download or read book The Knowing-doing Gap written by Jeffrey Pfeffer and published by Harvard Business Press. This book was released on 2000 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: The market for business knowledge is booming as companies looking to improve their performance pour millions of pounds into training programmes, consultants, and executive education. Why then, are there so many gaps between what firms know they should do and waht they actual do? This volume confronts the challenge of turning knowledge about how to improve performance into actions that produce measurable results. The authors identify the causes of this gap and explain how to close it.