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Risk Aversion
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Book Synopsis Decision-making Under Uncertainty by : Tapan Biswas
Download or read book Decision-making Under Uncertainty written by Tapan Biswas and published by Palgrave Macmillan. This book was released on 1997 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book systematically develops essential concepts in the economics of uncertainty and game theory. It also presents new ideas for further research. The first part deals with the economics of uncertainty, including a discussion of expected utility theory and non-expected utility theories, insurance market, portfolio analysis, principal-agent theory, as well as ethical issues presented in the context of choice under uncertainty. The second part develops an understanding of game theory as a tool for analysing the interactive decision-making process.
Book Synopsis Handbook of the Economics of Risk and Uncertainty by : Mark Machina
Download or read book Handbook of the Economics of Risk and Uncertainty written by Mark Machina and published by Newnes. This book was released on 2013-11-14 with total page 897 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Book Synopsis Predictably Rational? by : Richard B. McKenzie
Download or read book Predictably Rational? written by Richard B. McKenzie and published by Springer Science & Business Media. This book was released on 2009-10-21 with total page 319 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mainstream economists everywhere exhibit an "irrational passion for dispassionate rationality." Behavioral economists, and long-time critic of mainstream economics suggests that people in mainstrean economic models "can think like Albert Einstein, store as much memory as IBM’s Big Blue, and exercise the will power of Mahatma Gandhi," suggesting that such a view of real world modern homo sapiens is simply wrongheaded. Indeed, Thaler and other behavioral economists and psychology have documented a variety of ways in which real-world people fall far short of mainstream economists' idealized economic actor, perfectly rational homo economicus. Behavioral economist Daniel Ariely has concluded that real-world people not only exhibit an array of decision-making frailties and biases, they are "predictably irrational," a position now shared by so many behavioral economists, psychologists, sociologists, and evolutionary biologists that a defense of the core rationality premise of modedrn economics is demanded.
Book Synopsis The Economics of Risk and Time by : Christian Gollier
Download or read book The Economics of Risk and Time written by Christian Gollier and published by MIT Press. This book was released on 2001 with total page 492 pages. Available in PDF, EPUB and Kindle. Book excerpt: Updates and advances the theory of expected utility as applied to risk analysis and financial decision making.
Book Synopsis Gender and Risk-Taking by : Julie A. Nelson
Download or read book Gender and Risk-Taking written by Julie A. Nelson and published by Taylor & Francis. This book was released on 2017-07-14 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt: The belief that men and women have fundamentally distinct natures, resulting in divergent preferences and behaviours, is widespread. Recently, economists have also engaged in the search for gender differences, with a number claiming to find fundamental gender differences regarding risk-taking, altruism, and competition. In particular, the idea that "women are more risk-averse than men" has become accepted as a truism. But is it true? And what are its causes and consequences? Gender and Risk Taking makes three contributions. First, it asks whether the belief that men and women have distinct risk preferences is backed up by high quality empirical evidence. The answer turns out to be "no." This leads to a second question: Why, then, does so much of the literature claim to find evidence of "difference"? This, it will be shown, can be attributed to biases arising from too-easy categorical thinking, widespread stereotyping, and a tendency to prefer results that are publishable and that fit one’s prior beliefs. Third, the book explores the economic implications of the conventional association of risk-taking with masculinity and risk-aversion with femininity. Not only fairness in employment, but also the health of the financial sector and national responses to climate change, this book argues, are being compromised. This volume will be eye-opening for anyone interested in gender, decision-making, cognition, and/or risk, especially in areas relating to employment, finance, management, or public policy.
Book Synopsis Handbook of the Fundamentals of Financial Decision Making by : Leonard C. MacLean
Download or read book Handbook of the Fundamentals of Financial Decision Making written by Leonard C. MacLean and published by World Scientific. This book was released on 2013 with total page 941 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook in two parts covers key topics of the theory of financial decision making. Some of the papers discuss real applications or case studies as well. There are a number of new papers that have never been published before especially in Part II.Part I is concerned with Decision Making Under Uncertainty. This includes subsections on Arbitrage, Utility Theory, Risk Aversion and Static Portfolio Theory, and Stochastic Dominance. Part II is concerned with Dynamic Modeling that is the transition for static decision making to multiperiod decision making. The analysis starts with Risk Measures and then discusses Dynamic Portfolio Theory, Tactical Asset Allocation and Asset-Liability Management Using Utility and Goal Based Consumption-Investment Decision Models.A comprehensive set of problems both computational and review and mind expanding with many unsolved problems are in an accompanying problems book. The handbook plus the book of problems form a very strong set of materials for PhD and Masters courses both as the main or as supplementary text in finance theory, financial decision making and portfolio theory. For researchers, it is a valuable resource being an up to date treatment of topics in the classic books on these topics by Johnathan Ingersoll in 1988, and William Ziemba and Raymond Vickson in 1975 (updated 2 nd edition published in 2006).
Book Synopsis Handbook of Experimental Economics Results by : Charles R. Plott
Download or read book Handbook of Experimental Economics Results written by Charles R. Plott and published by Elsevier. This book was released on 2008-08-21 with total page 1175 pages. Available in PDF, EPUB and Kindle. Book excerpt: While the field of economics makes sharp distinctions and produces precise theory, the work of experimental economics sometimes appears blurred and may produce uncertain results. The contributors to this volume have provided brief notes describing specific experimental results.
Book Synopsis Economic and Financial Decisions under Risk by : Louis Eeckhoudt
Download or read book Economic and Financial Decisions under Risk written by Louis Eeckhoudt and published by Princeton University Press. This book was released on 2011-10-30 with total page 245 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Risk Aversion in Experiments by : G.W. Harrison
Download or read book Risk Aversion in Experiments written by G.W. Harrison and published by Emerald Group Publishing. This book was released on 2008-02-29 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents research utilizing laboratory experimental methods in economics.
Book Synopsis Encyclopedia of Business Analytics and Optimization by : Wang, John
Download or read book Encyclopedia of Business Analytics and Optimization written by Wang, John and published by IGI Global. This book was released on 2014-02-28 with total page 2862 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the age of Big Data emerges, it becomes necessary to take the five dimensions of Big Data- volume, variety, velocity, volatility, and veracity- and focus these dimensions towards one critical emphasis - value. The Encyclopedia of Business Analytics and Optimization confronts the challenges of information retrieval in the age of Big Data by exploring recent advances in the areas of knowledge management, data visualization, interdisciplinary communication, and others. Through its critical approach and practical application, this book will be a must-have reference for any professional, leader, analyst, or manager interested in making the most of the knowledge resources at their disposal.
Book Synopsis Prospect Theory by : Daniel Kahneman
Download or read book Prospect Theory written by Daniel Kahneman and published by . This book was released on 1979 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Handbook of Research on Financial Management During Economic Downturn and Recovery by : Teixeira, Nuno Miguel
Download or read book Handbook of Research on Financial Management During Economic Downturn and Recovery written by Teixeira, Nuno Miguel and published by IGI Global. This book was released on 2021-06-04 with total page 594 pages. Available in PDF, EPUB and Kindle. Book excerpt: Times of crisis are unexpected and they bring diverse challenges and opportunities for companies, financial markets, and the economy. On one hand, more risk and uncertainties appear, yet on the other hand, it is an opportunity to reorganize and reinvent the company. It is important for businesses to understand ways to deal with uncertainty and risk in times of economic downturn and what financial strategies and tools can be used to eliminate or reduce the potential negative effects. These effects can reach the company’s financial performance, capital structure, as well as cause financial debt and the availability of cash-flow to companies. However, different financial instruments can sustain the business and deal with the difficulties of payment when sales reduce and uncertainty increases; thus, research is essential in this critical area. When economic downturn affects the financial markets, the role of banks, country dynamics, the economy, and many other facets of the business world, financial management becomes the key for business recovery. The Handbook of Research on Financial Management During Economic Downturn and Recovery shares relevant knowledge on challenges and opportunities caused by crises, such as the pandemic, and the effects on economic and financial arenas. The chapters cover topics such as business models to understand how companies react to pandemic and crises situations, as well as how they change their management and way of conducting business. Other important topics include sustainable development, international financial markets, capital structure changes, uncertainty and risk, and governance and leadership. This book is ideal for shareholders, directors and managers, economists, researchers, academics, practitioners, stakeholders, researchers, academicians, and students interested in knowledge on topics about challenges in the way that companies, financial markets, financial institutions, and governments respond to risk and uncertainty.
Book Synopsis The Palgrave Encyclopedia of Strategic Management by :
Download or read book The Palgrave Encyclopedia of Strategic Management written by and published by Palgrave Macmillan. This book was released on 2018-05-04 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Palgrave Encyclopedia of Strategic Management has been written by an international team of leading academics, practitioners and rising stars and contains almost 550 individually commissioned entries. It is the first resource of its kind to pull together such a comprehensive overview of the field and covers both the theoretical and more empirically/practitioner oriented side of the discipline.
Book Synopsis Technological Innovations for Sustainability and Business Growth by : Geetika Jain
Download or read book Technological Innovations for Sustainability and Business Growth written by Geetika Jain and published by Business Science Reference. This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book explores the issue of sustainable business development goals in emerging economies. It also examines a wide range of techniques and technology adaption methods for adopting and achieving a sustainable competitive advantage"--
Book Synopsis Risk, Uncertainty and Profit by : Frank H. Knight
Download or read book Risk, Uncertainty and Profit written by Frank H. Knight and published by Cosimo, Inc.. This book was released on 2006-11-01 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book No Fear written by Tim Gill and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Debates the role and nature of childhood in the UK. Focusing on the crucial years of childhood between the ages of 5 and 11, this work examines some of the key issues with regard to children's safety: playground design and legislation, antisocial behavior, bullying, child protection, the fear of strangers, and online risks.
Book Synopsis Against the Gods by : Peter L. Bernstein
Download or read book Against the Gods written by Peter L. Bernstein and published by John Wiley & Sons. This book was released on 2012-09-11 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Business Week, New York Times Business, and USA Today Bestseller "Ambitious and readable . . . an engaging introduction to the oddsmakers, whom Bernstein regards as true humanists helping to release mankind from the choke holds of superstition and fatalism." —The New York Times "An extraordinarily entertaining and informative book." —The Wall Street Journal "A lively panoramic book . . . Against the Gods sets up an ambitious premise and then delivers on it." —Business Week "Deserves to be, and surely will be, widely read." —The Economist "[A] challenging book, one that may change forever the way people think about the world." —Worth "No one else could have written a book of such central importance with so much charm and excitement." —Robert Heilbroner author, The Worldly Philosophers "With his wonderful knowledge of the history and current manifestations of risk, Peter Bernstein brings us Against the Gods. Nothing like it will come out of the financial world this year or ever. I speak carefully: no one should miss it." —John Kenneth Galbraith Professor of Economics Emeritus, Harvard University In this unique exploration of the role of risk in our society, Peter Bernstein argues that the notion of bringing risk under control is one of the central ideas that distinguishes modern times from the distant past. Against the Gods chronicles the remarkable intellectual adventure that liberated humanity from oracles and soothsayers by means of the powerful tools of risk management that are available to us today. "An extremely readable history of risk." —Barron's "Fascinating . . . this challenging volume will help you understand the uncertainties that every investor must face." —Money "A singular achievement." —Times Literary Supplement "There's a growing market for savants who can render the recondite intelligibly-witness Stephen Jay Gould (natural history), Oliver Sacks (disease), Richard Dawkins (heredity), James Gleick (physics), Paul Krugman (economics)-and Bernstein would mingle well in their company." —The Australian
