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experimentaly based, contributes to diminushing the uncertainty degree that influences decision making process. As a conclusion, in … support to decision making process, but also attract new costs. In this situation, getting new information, generally … a large number of decision problems, there is the possibility that the decision makers will renew some decisions already …
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Kenneth Arrow and Karl Borch published several important articles in the early 1960s that can be viewed as the beginning of modern economic analysis of insurance activity. This chapter reviews the main theoretical and empirical contributions in insurance economics since that time. The review...
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