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Risk, Public Perception and Education: Quantitative and Qualitative Risk

Shubik, Martin - School of Management, Yale University - 2001

A brief survey of the development of the study of risk and probability is given together with some basic observations … on their application to insurance. This is followed with observations on the lack of appreciation of probability studies … and an elementary feeling for probability by the public at large and a suggestion that the time is ripe for a new science …

Persistent link: https://www.econbiz.de/10005369005

Supply streams

Song, Jing-Sheng; Zipkin, Paul Herbert - In: Manufacturing & service operations management : M & SOM 15 (2013) 3, pp. 444-457

Persistent link: https://www.econbiz.de/10009782016

The standard model of rational risky decision-making

Falahati, Kazem - In: Journal of risk and financial management : JRFM 14 (2021) 4, pp. 1-22

Expected utility theory (EUT) is currently the standard framework which formally defines rational decision-making under risky conditions. EUT uses a theoretical device called von Neumann-Morgenstern utility function, where concepts of function and random variable are employed in their...

Persistent link: https://www.econbiz.de/10012520657

Decision theory with a Hilbert space as possibility space

Eichberger, Jürgen; Pirner, Hans J. - 2017

In this paper, we propose an interpretation of the Hilbert space method used in quantum theory in the context of decision making under uncertainty. For a clear comparison we will stay as close as possible to the framework of SEU suggested by Savage (1954). We will use the Ellsberg (1961) paradox...

Persistent link: https://www.econbiz.de/10011745366

Risk taking and information aggregation in groups

Bougheas, Spiros; Nieboer, Jeroen; Sefton, Martin - 2015

We report a controlled laboratory experiment examining risk-taking and information aggregation in groups facing a common risk. The experiment allows us to examine how subjects respond to new information, in the form of both privately observed signals and signals reported from others. We find...

Persistent link: https://www.econbiz.de/10011444297

Risk taking and information aggregation in groups

Bougheas, Spiros; Nieboer, Jeroen; Sefton, Martin - 2014

We report an experiment examining risk taking and information aggregation in groups. Group members come to the table with an individual preference for a choice under risk, based on privately received information, and can share this information with fellow group members. They then make a decision...

Persistent link: https://www.econbiz.de/10010392398

Risk taking and information aggregation in groups

Bougheas, Spiros P.; Nieboer, Jeroen; Sefton, Martin - 2015

Persistent link: https://www.econbiz.de/10010515798

Risk taking and information aggregation in groups

Bougheas, Spiros P.; Nieboer, Jeroen; Sefton, Martin - 2014

Persistent link: https://www.econbiz.de/10010371298

Successful Entrepreneurs are Not Risk Takers : Toward a Theory of Entrepreneurial Decision Making

Murmann, Johann Peter - 2011

Many scholars see entrepreneurs as action-oriented individuals who use rules of thumb and other mental heuristics to make decisions, but who do little systematic planning and analysis. We argue that what distinguishes successful from unsuccessful entrepreneurs is precisely that they vary their...

Persistent link: https://www.econbiz.de/10013131962

Brexit and Uncertainty : Insights from the Decision Maker Panel

Bloom, Nicholas - 2019

The UK's decision to leave the EU in the 2016 referendum created substantial uncertainty for UK businesses. The nature of this uncertainty is different from that of a typical uncertainty shock because of its length, breadth and political complexity. Consequently, a new firm-level survey, the...

Persistent link: https://www.econbiz.de/10012892721

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