Showing 91 - 97 of 97
Persistent link: https://www.econbiz.de/10012311197
. Samuelson (1963), 'Risk and Uncertainty: The Fallacy of the Law of Large Numbers', Scientia, 57 (6), 1-6 -- 6. Larry G. Epstein …), 'Uncertainty and the Welfare Economics of Medical Care', American Economic Review, 53 (5), December, 941-73 -- 11. Artur Raviv … Theory of the Competitive Firm under Price Uncertainty', American Economic Review, 61 (1), March, 65-73 -- 17. Jacques H …
Persistent link: https://www.econbiz.de/10012251678
Expected utility provides simple, testable properties of the optimum behavior that should be displayed by risk-averse individuals in risky decisions. Simultaneously, given the existence of paradoxes under the expected utility paradigm, expected utility can only be regarded as an approximation of...
Persistent link: https://www.econbiz.de/10013522456
Persistent link: https://www.econbiz.de/10013484415
Persistent link: https://www.econbiz.de/10013408199
Persistent link: https://www.econbiz.de/10013265853
By using their financial reserves efficiently, pension funds can smooth shocks on asset returns, and can thus facilitate intergenerational risk-sharing. In addition to the primary benefit of improved time diversification, this form of risk allocation affords the additional benefit of allowing...
Persistent link: https://www.econbiz.de/10013317092