Risk: evaluation, management and sharing
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English French |
| Published: |
New York [u.a.]
Harvester Wheatsheaf
1995
|
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Item Description: | Aus dem Franz. übers. |
| Physical Description: | XVII, 347 S. graph. Darst. |
| ISBN: | 0745015921 |
Staff View
MARC
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| 245 | 1 | 0 | |a Risk |b evaluation, management and sharing |c Louis Eeckhoudt ; Christian Gollier |
| 264 | 1 | |a New York [u.a.] |b Harvester Wheatsheaf |c 1995 | |
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| 650 | 4 | |a Risk | |
| 650 | 4 | |a Risk (Insurance) | |
| 650 | 4 | |a Risk assessment | |
| 650 | 4 | |a Risk management | |
| 650 | 4 | |a Uncertainty | |
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Record in the Search Index
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|---|---|
| adam_text | Contents
Foreword
ix
Preface
xiii
Introduction
xvii
part ONE The evaluation of risk situations
1
Framework of analysis and basic notation
3
Note
5
2
Criteria for evaluating lotteries: a (very brief) overview
6
2.1
The expected value criterion
7
2.2
The mean variance criterion
9
2.3
The safety first criteria
12
2.4
Some brief remarks on other criteria
14
Exercises
16
Notes
17
References
18
3
The expected utility criterion and its implications
39
3.1
Some reflections on expected utility
19
3.2
The notion of the certainty equivalent
20
3.3
The asking price (bid price) and the risk premium: notions
of risk aversion, risk loving and risk neutrality
25
3.4
The Arrow—Pratt approximation and the notion of absolute
risk aversion
32
Exercises
36
Notes
37
References
38
4
Other measures
öf
risk aversion and some associated
assumptions
39
4.1
The notions of relative and partial risk aversion
39
vi
CONTENTS
4.2
Assumptions about the properties of the measures of risk
aversion
44
4.3
The common utility functions
46
4.4
Two extensions
52
Exercises
59
Notes
62
References
63
5
The notion of changing risk (with constant mean)
64
5.1
The case of a discrete distribution: the notion of white
noise and the integral condition
65
5.2
Generalisation to continuous distributions
70
5.3
The increase in risk viewed as a transfer of weight
72
5.4
And the variance?
78
Exercises
80
Notes
81
References
82
6
A smorgasbord of subjects
84
6.1
First-order stochastic dominance
84
6.2
The notion of prudence
89
6.3
Machina s triangle
92
Exercises
96
Notes
98
References
98
7
Uncertainty and contingent claims
99
7.1
Description of uncertainty and states of the world
99
7.2
Contingent claims
202
7.3
Socially diversifiable risks
103
7.4
Graphical representation by the states of the world
105
Exercises
109
Notes 111
References
112
PART TWO
individuai
choices under uncertainty
8
Ä
general description of the problems
115
Mote
116
9
(Simple) portfolio choices under uncertainty
117
9.1
The decision-maker s environment
117
9.2
Optimisation coaditions for different evaluation models
119
9.3
Comparative statics analysis
128
CONTENTS v
9.4 An
increase in risk with constant expected value
142
Exercises
148
Notes
150
References
152
10
The demand for insurance
153
10.1
Types of contracts studied and basic notation
153
10.2
The co-insurance contract (the case of a single risk)
156
10.3
The co-insurance contract (with multiple risks)
164
10.4
The deductible
169
10.5
The superiority of deductible insurance over
co-insurance
178
Exercises
183
Notes
184
References
185
11
The production decision under uncertainty
187
11.1
An overview of subjects discussed
187
11.2
Market uncertainty: basic elements
189
11.3
Two extensions: value of flexibility (or of information) and
the role of futures markets
197
11.4
Technological uncertainty
204
Exercises
207
Notes
210
References
211
PART Markets for uncertainty
THREE
12
General description of the problems treated
215
References
216
13
Efficient risk-sharing
217
13.1
The Borch condition and the Edgeworth box
220
13.2
The mutuality principle
226
13.3
Sharing non-diversifiabk risk
231
Exercises
240
Notes
243
References
244
14
The complete markets model
245
14.1
Markets for contingent claims and arbitrage
245
14.2
Competitive equilibrium and the welfare theorem
250
14.3
Incomplete markets: an introduction
264
Exercises
273
Notes
276
References
276
viii CONTENTS
15
The capital asset pricing model
278
15.1
Portfolio risk and the efficient frontier
278
15.2
The CAPM approach
293
Exercises
298
Notes
299
References
299
16
Uncertainty and asymmetric information
301
16.1
Asymmetric information on the goods market
302
16.2
Asymmetric information on insurance markets
306
16.3
Asymmetric information on financial markets
314
Exercises
319
Notes
320
References
320
Conclusion
321
Appendix
1 323
Appendix
2 325
Note
326
Appendix
3 327
Note
327
Appendix
4 328
Note
328
Appendix
5 329
Appendix
6 331
Appendix
7 332
Appendix
8 334
Appendix
9 336
Appendix
10 337
Bibliography
339
Index
342
|
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| discipline | Wirtschaftswissenschaften |
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| id | DE-604.BV010036650 |
| illustrated | Illustrated |
| indexdate | 2024-07-09T17:45:21Z |
| institution | BVB |
| isbn | 0745015921 |
| language | English French |
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| physical | XVII, 347 S. graph. Darst. |
| publishDate | 1995 |
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| publisher | Harvester Wheatsheaf |
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| spelling | Eeckhoudt, Louis Verfasser aut Risk evaluation, management and sharing Louis Eeckhoudt ; Christian Gollier New York [u.a.] Harvester Wheatsheaf 1995 XVII, 347 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Aus dem Franz. übers. Besliskunde gtt Onzekerheid gtt Risicoanalyse gtt Risk Risk (Insurance) Risk assessment Risk management Uncertainty Risikomanagement (DE-588)4121590-4 gnd rswk-swf Entscheidungstheorie (DE-588)4138606-1 gnd rswk-swf Risikoverhalten (DE-588)4050133-4 gnd rswk-swf Risikoverhalten (DE-588)4050133-4 s DE-604 Risikomanagement (DE-588)4121590-4 s Entscheidungstheorie (DE-588)4138606-1 s Gollier, Christian 1961- Verfasser (DE-588)113121814 aut Digitalisierung UB Bamberg application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006655981&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Eeckhoudt, Louis Gollier, Christian 1961- Risk evaluation, management and sharing Besliskunde gtt Onzekerheid gtt Risicoanalyse gtt Risk Risk (Insurance) Risk assessment Risk management Uncertainty Risikomanagement (DE-588)4121590-4 gnd Entscheidungstheorie (DE-588)4138606-1 gnd Risikoverhalten (DE-588)4050133-4 gnd |
| subject_GND | (DE-588)4121590-4 (DE-588)4138606-1 (DE-588)4050133-4 |
| title | Risk evaluation, management and sharing |
| title_auth | Risk evaluation, management and sharing |
| title_exact_search | Risk evaluation, management and sharing |
| title_full | Risk evaluation, management and sharing Louis Eeckhoudt ; Christian Gollier |
| title_fullStr | Risk evaluation, management and sharing Louis Eeckhoudt ; Christian Gollier |
| title_full_unstemmed | Risk evaluation, management and sharing Louis Eeckhoudt ; Christian Gollier |
| title_short | Risk |
| title_sort | risk evaluation management and sharing |
| title_sub | evaluation, management and sharing |
| topic | Besliskunde gtt Onzekerheid gtt Risicoanalyse gtt Risk Risk (Insurance) Risk assessment Risk management Uncertainty Risikomanagement (DE-588)4121590-4 gnd Entscheidungstheorie (DE-588)4138606-1 gnd Risikoverhalten (DE-588)4050133-4 gnd |
| topic_facet | Besliskunde Onzekerheid Risicoanalyse Risk Risk (Insurance) Risk assessment Risk management Uncertainty Risikomanagement Entscheidungstheorie Risikoverhalten |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=006655981&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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