, which is sold before the true cost is known. They behave as if they were risk-averse for a standard reason of costly …

This chapter of a collective book aims at presenting the basics of decision making under risk. We first define notions … of risk and increasing risk and recall definitions and classifications (that are valid independently of any … representation) of behavior under risk. We then review the classical model of expected utility due to von Neumann and Morgenstern …

This paper applies to adverse selection theory the advances made in the field of ambiguity theory. It shows that i) a …

Our earlier papers had extend to asymmetric information the classical existence theorems of general equilibrium theory …

theory, under the standard assumption that agents had perfect foresights, that is, they knew at the outset which price would …