markets, such as natural disasters, terrorist attacks, and financial crises—as a problem of risk management. This is … institutional theory that points to stakeholder and institutional dynamics affecting economic incentives to invest in prevention and …

enough to approximate Kahnenman and Tversky's prospect theory and that for certain parametric values will yield the expected …

-Expected Utility theories, we strongly reject Prospect Theory probability weighting, we support disappointment aversion if amended to …

This paper introduces the concept of standard risk aversion. A von Neumann-Morgenstern utility function has standard … risk aversion if any risk makes a small reduction in wealth more painful (in the sense of an increased reduction in … expected utility) also makes any undesirable, independent risk more painful. It is shown that, given monotonicity and concavity …

The appeal of expected utility theory as a basis for a descriptive model of risky decision making has diminished is a …-range probability than is proposed by the expected utility model and risk-seeking behavior over quot;long-shotquot; odds is common …

This paper discusses how limited ability to assess patient risk of illness and predict treatment response may affect … afflict medical decision making, I apply basic decision theory to suggest reasonable decision criteria with well …

the firm's exposure to IST shocks and risk premia. Our calibrated model replicates: i) the predictability of returns by … returns by aggregate investment and valuation ratios; and v) a downward sloping term structure of risk premia for dividend …

enforcement are discussed in the chapters that follow. In chapter 20, the basic theory of public enforcement employing monetary … sanctions is discussed; in chapter 21, the basic theory of enforcement using nonmonetary sanctions is examined; and in chapter … 22, extensions to the basic theory are considered. Then, in chapter 23, functions of sanctions apart from deterrence …