This paper shows results of comparison of the original theoretical conception of modeling human decisions under risk with two well known models. In the paper the demand function for insurance is constructed for the model of maximization of the probability of agent’s (economical) survival. This...

The core aim of this paper is to suggest comprehensive definition of the information economy and delineate the range of economic problems it deals with, paying particular attention to its connections to the economics of information. The text, in the extent provided, can not investigate...

The St Petersburg paradox could be used as an extreme demonstration of the utility function cardinalisation in case of stochastic utility. In this article we reassume the von Neumann and Mongernstern explanation to this paradox based on the risk aversion expressed by the strict concavity of the...

Theory of redistribution systems is an application and at the same time extension of Game Theory. It deals with functioning of institutions, establishments, firms and others social systems, in that pay-offs are redistributed in contrast to achievement of individual players. The redistribution is...

The paper contains a descriptive analysis of selected interdisciplinary research methods developed for the study of complex socio-ecological systems (climate change problems in particular). Institutional analysis and participatory methods of social consensus are in the centre of the focus.

This article is dealed about the requirements on new architecture of financial markets, namely for banking and insurance market. The principles of Basel II and Solvency II are discussed. The second part of article concerned with quality changes in comercial insurable risk and financial decesion...

The authors of the article point out that the theory of economics has failed to yield a solid theoretical background in such critical situations as the period of the current fi nancial and economic crisis and the transformation period of post-communist economies. Mainly present crisis opens the...

Our rapidly changing world has been challenging insurers to keep the pace. Given the qualitative changes in risk trends, the insurance industry has encountered a problem of insurability limits and shifting boundaries of the private insurance sector. The possibilities of covering enormous...