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In knapper Form stellt dieses essential die Theorie des Erwartungsnutzens verständlich dar. Wer sich in kurzer Zeit … Ursprung der Theorie des Erwartungsnutzens an, leitet die Modelle aus der These des rationalen Verhaltens ab und diskutiert …
Persistent link: https://www.econbiz.de/10012401538
Risk: Is There a Unique Objective Measure? -- Expected Utility Theory -- Stochastic Dominance Decision Rules … Dominance Approach -- Non-Expected Utility and Stochastic Dominance -- Stochastic Dominance and Prospect Theory -- Multivariate …. The non-expected utility approach focuses on Regret Theory (RT) and mainly on prospect theory (PT) and its modified …
Persistent link: https://www.econbiz.de/10014017858
While the determinants of firms’ optimal hedging strategies on the micro level are well understood, there is rarely any literature dealing with macroeconomic consequences of microeconomic risk management. This book is concerned with the impact of diverse hedging policies on macroeconomic...
Persistent link: https://www.econbiz.de/10013521234
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 …
Persistent link: https://www.econbiz.de/10013520424
This book is written for those seeking a decision theory appropriate for use in serious choices such as insurance. It … standard decision theories like expected utility or cumulative prospect theory. …This book is written for those seeking a decision theory appropriate for use in serious choices such as insurance. It …
Persistent link: https://www.econbiz.de/10013520645
context of choice. It covers classic theory as a special, context-free case and gives a systematic overview of new models of …. The presented models will be helpful to scientists in economics, decision making theory, social choice theory, behavioral …
Persistent link: https://www.econbiz.de/10013520742
This book tries to sort out the different meanings of uncertainty and to discover their foundations. It shows that uncertainty can be represented using various tools and mental guidelines. Coverage also examines alternative ways to deal with risk and risk attitude concepts. Behavior under...
Persistent link: https://www.econbiz.de/10013520749
The theory on the evolution of preferences deals with the endogenous formation of preference relations in strategic … situations. It is related to the field of evolutionary game theory. In this book we analyze the role and the influence of general …The theory on the evolution of preferences deals with the endogenous formation of preference relations in strategic …
Persistent link: https://www.econbiz.de/10013520896
Berücksichtigung der Unsicherheit in zu beurteilenden Dienstleistungsproduktionen -- Kennzeichnung von Dienstleistungsproduktionen als stochastische Entscheidungsprobleme -- Verfahren zur Leistungsmessung von Entscheidungseinheiten -- Entwicklung einer Methodik zur Leistungsmessung...
Persistent link: https://www.econbiz.de/10014014378
Read examines probability, risk, and uncertainty through the contributions of John von Neumann, Leonard Jimmie Savage, Kenneth Arrow and Harry Markowitz. These Portfolio Theorists provided us with a dramatic leap forward in our understanding of and insights into financial rewards under risk and...
Persistent link: https://www.econbiz.de/10011612201