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Serrano, Roberto; Aumann, Robert J. - Centro de Estudios Monetarios y Financieros (CEMFI) - 2007

Define the riskiness of a gamble as the reciprocal of the absolute risk aversion (ARA) of an individual with constant ARA who is indifferent between taking and not taking that gamble. We characterize this index by axioms, chief among them a “duality” axiom which, roughly speaking, asserts...

Persistent link: https://www.econbiz.de/10005264553

A simple measure of risk aversion in the large and an application.

CHANDER, Parkash - Center for Operations Research and Econometrics (CORE), … - 2000

that the majority of refinements considered in the theory of multiple risk bearing including that of mixed risk aversion …

Persistent link: https://www.econbiz.de/10005008159

Repetitive risk aversion

CHANDER, Parkash - Center for Operations Research and Econometrics (CORE), … - 2005

This paper introduces and investigates the concept of repetitive risk aversion. The risk aversion of an increasing and concave utility function is repetitive if the fear of ruin, which measures agent's aversion to risking his entire income, is also increasing and concave. This is shown to be...

Persistent link: https://www.econbiz.de/10005008372

A Theory of Rational Decision with Incomplete Information.

Nehring, K. - California Davis - Institute of Governmental Affairs - 1995

Persistent link: https://www.econbiz.de/10005774086

L'urgence et ses presentations dans les organisations.

Getz, I.; Laroche, H. - ESCP Europe - 1995

Ce cahier de recherche deux papiers qui ont en commun d'aborder l'urgence comme une question de representation. Le premier considere l'urgence en rapport avec la prise de decision, mais concoit cette activite elle-meme comme une presentation. Le second relativise la representation de l'urgence...

Persistent link: https://www.econbiz.de/10005774270

Explaining Violations of Bayesian Inference

Pasche, Markus - Wirtschaftswissenschaftliche Fakultät, … - 1997

Empirical studies show that agents often violate Bayes' rule in updating probability expectations. This paper deals with errors in combining observations with prior knowledge. Such errors neccessarily occur when agents have limited information-processing capacities. It is shown that rational...

Persistent link: https://www.econbiz.de/10005835248

Game theory on strategic communication: an approach from Thomas S. Schelling

Estrada, Fernando - Volkswirtschaftliche Fakultät, … - 2010

In their recent work Thomas S. Schelling (2007, 2010), reiterating original arguments about game theory and its … applications to social sciences. In particular, game theory helps to explore situations in which agents make decisions … interdependent (strategic communication). Schelling's originality is to extend economic theory to social sciences. When a player can …

Persistent link: https://www.econbiz.de/10008541485

Maximum Certain Equivalent Excess Returns and Equivalent Preference Criteria Part I - Theory

Pézier, Jacques - Henley Business School, University of Reading - 2007

increasing functions of CERs and therefore equivalent criteria. They are consistent with utility theory and are applicable to any …

Persistent link: https://www.econbiz.de/10008542356

Decizii economice in conditii de risc

Belu, Nicoleta; Albici, Mihaela - Volkswirtschaftliche Fakultät, … - 2009

”Decision making always and necessarily implies human actions, which, when facing an external event (information) must identify the event’s future status and set up the potential action ways leading to suggested goal accomplishment”

Persistent link: https://www.econbiz.de/10008544702

Evoluţii şi semnificaţii ale operaţiunilor de franchising pe plan naţional şi internaţional

Parpandel, Denisa Elena; Stanciulescu, Cecilia Gabriela; … - Volkswirtschaftliche Fakultät, … - 2009

The contents of this paper I will try to address all those interested in studying the system of franchising, both theoreticians and practitioners in this field to contribute to the progress of this system in our country. Franchising is a reality in motion which will write more, being on time to...

Persistent link: https://www.econbiz.de/10008549615