Investment and all other economic actions depend on 'subjective' expectations. The problem is how to construct a theory … economics of F.A.Hayek, Koppl gives us such a theory. This includes a theory of 'Big Players', demonstrating that discretionary … economic theory, and connects with many other schools of economics including New Institutional Economics, Constitutional …

: Risk and Insurance Theory Without Information Problems -- Higher-Order Risk Attitudes -- Non-Expected Utility and the … Risk Taking: A Survey -- Risk Measures and Dependence Modeling -- The Theory of Insurance Demand.-Prevention and Precaution … -- Part 3 : Asymmetric Information: Theory -- Optimal Insurance Contracts under Moral Hazard -- Adverse Selection in Insurance …

prospect theory and its modified version, cumulative prospect theory. Each approach is discussed and compared. In addition … prospect theory and its modified version, cumulative prospect theory. These approaches are discussed and compared in this book … dominance rules and prospect theory, and establishes a new investment decision rule which combines the two and which we call …