The economics of risk and time /:
This book updates and advances the theory of expected utility as applied to risk analysis and financial decision making. Von Neumann and Morgenstern pioneered the use of expected utility theory in the 1940s, but most utility functions used in financial management are still relatively simplistic and...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass. :
MIT Press,
2001.
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This book updates and advances the theory of expected utility as applied to risk analysis and financial decision making. Von Neumann and Morgenstern pioneered the use of expected utility theory in the 1940s, but most utility functions used in financial management are still relatively simplistic and assume a mean-variance world. Taking into account recent advances in the economics of risk and uncertainty, this book focuses on richer applications of expected utility in finance, macroeconomics, and environmental economics. The book covers these topics: expected utility theory and related concepts; the standard portfolio problem of choice under uncertainty involving two different assets; P the basic hyperplane separation theorem and log-supermodular functions as technical tools for solving various decision-making problems under uncertainty; s choice involving multiple risks; the Arrow-Debreu portfolio problem; consumption and saving; the equilibrium price of risk and time in an Arrow-Debreu economy; and dynamic models of decision making when a flow of information on future risks is expected over time. The book is appropriate for both students and professionals. Concepts are presented intuitively as well as formally, and the theory is balanced by empirical considerations. Each chapter concludes with a problem set. |
| Beschreibung: | 1 online resource (xx, 445 pages) : illustrations |
| Bibliographie: | Includes bibliographical references (pages 429-440) and index. |
| ISBN: | 0585386994 9780585386997 9780262274043 0262274043 |
Internformat
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| 245 | 1 | 4 | |a The economics of risk and time / |c Christian Gollier. |
| 260 | |a Cambridge, Mass. : |b MIT Press, |c 2001. | ||
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| 504 | |a Includes bibliographical references (pages 429-440) and index. | ||
| 588 | 0 | |a Print version record. | |
| 505 | 0 | |a The expected utility model -- Risk aversion -- Change in risk -- The standard portfolio problem -- The equilibrium price risk -- A hyperplane separation theorem -- Log-supermodularity -- Risk aversion with background risk -- The tempering effect of background risk -- Taking multiple risks -- The dynamic investment problem -- Special topics in dynamic finance -- The demand for contingent claims -- Risk on wealth -- Consumption under certainty -- Precautionary saving and prudence -- The equilibrium price of time -- The liquidity constraint -- The saving-portfolio problem -- Disentangling risk and time -- Efficient risk sharing -- The equilibrium price of risk and time -- Searching for the representative agent -- The value of information -- Decision making and information -- Information and equilibrium. | |
| 520 | |a This book updates and advances the theory of expected utility as applied to risk analysis and financial decision making. Von Neumann and Morgenstern pioneered the use of expected utility theory in the 1940s, but most utility functions used in financial management are still relatively simplistic and assume a mean-variance world. Taking into account recent advances in the economics of risk and uncertainty, this book focuses on richer applications of expected utility in finance, macroeconomics, and environmental economics. The book covers these topics: expected utility theory and related concepts; the standard portfolio problem of choice under uncertainty involving two different assets; P the basic hyperplane separation theorem and log-supermodular functions as technical tools for solving various decision-making problems under uncertainty; s choice involving multiple risks; the Arrow-Debreu portfolio problem; consumption and saving; the equilibrium price of risk and time in an Arrow-Debreu economy; and dynamic models of decision making when a flow of information on future risks is expected over time. The book is appropriate for both students and professionals. Concepts are presented intuitively as well as formally, and the theory is balanced by empirical considerations. Each chapter concludes with a problem set. | ||
| 546 | |a English. | ||
| 650 | 0 | |a Finance. |0 http://id.loc.gov/authorities/subjects/sh85048256 | |
| 650 | 0 | |a Financial engineering. |0 http://id.loc.gov/authorities/subjects/sh91003887 | |
| 650 | 0 | |a Risk. |0 http://id.loc.gov/authorities/subjects/sh85114195 | |
| 650 | 0 | |a Risk assessment. |0 http://id.loc.gov/authorities/subjects/sh87002638 | |
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| 650 | 6 | |a Risque. | |
| 650 | 6 | |a Évaluation du risque. | |
| 650 | 6 | |a Gestion du risque. | |
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| 758 | |i has work: |a The economics of risk and time (Text) |1 https://id.oclc.org/worldcat/entity/E39PCG8cwMdgJHwgHJhqXpKgTd |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
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Datensatz im Suchindex
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| author | Gollier, Christian |
| author_facet | Gollier, Christian |
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| bvnumber | localFWS |
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| collection | ZDB-4-EBA |
| contents | The expected utility model -- Risk aversion -- Change in risk -- The standard portfolio problem -- The equilibrium price risk -- A hyperplane separation theorem -- Log-supermodularity -- Risk aversion with background risk -- The tempering effect of background risk -- Taking multiple risks -- The dynamic investment problem -- Special topics in dynamic finance -- The demand for contingent claims -- Risk on wealth -- Consumption under certainty -- Precautionary saving and prudence -- The equilibrium price of time -- The liquidity constraint -- The saving-portfolio problem -- Disentangling risk and time -- Efficient risk sharing -- The equilibrium price of risk and time -- Searching for the representative agent -- The value of information -- Decision making and information -- Information and equilibrium. |
| ctrlnum | (OCoLC)49569490 |
| dewey-full | 658.15/5 |
| dewey-hundreds | 600 - Technology (Applied sciences) |
| dewey-ones | 658 - General management |
| dewey-raw | 658.15/5 |
| dewey-search | 658.15/5 |
| dewey-sort | 3658.15 15 |
| dewey-tens | 650 - Management and auxiliary services |
| discipline | Wirtschaftswissenschaften |
| format | Electronic eBook |
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Von Neumann and Morgenstern pioneered the use of expected utility theory in the 1940s, but most utility functions used in financial management are still relatively simplistic and assume a mean-variance world. Taking into account recent advances in the economics of risk and uncertainty, this book focuses on richer applications of expected utility in finance, macroeconomics, and environmental economics. The book covers these topics: expected utility theory and related concepts; the standard portfolio problem of choice under uncertainty involving two different assets; P the basic hyperplane separation theorem and log-supermodular functions as technical tools for solving various decision-making problems under uncertainty; s choice involving multiple risks; the Arrow-Debreu portfolio problem; consumption and saving; the equilibrium price of risk and time in an Arrow-Debreu economy; and dynamic models of decision making when a flow of information on future risks is expected over time. The book is appropriate for both students and professionals. Concepts are presented intuitively as well as formally, and the theory is balanced by empirical considerations. 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| genre | Leermiddelen (vorm) (NL-LeOCL)088143767 gtt |
| genre_facet | Leermiddelen (vorm) |
| id | ZDB-4-EBA-ocm49569490 |
| illustrated | Illustrated |
| indexdate | 2024-11-27T13:15:16Z |
| institution | BVB |
| isbn | 0585386994 9780585386997 9780262274043 0262274043 |
| language | English |
| lccn | 2001030213 |
| oclc_num | 49569490 |
| open_access_boolean | |
| owner | MAIN DE-863 DE-BY-FWS |
| owner_facet | MAIN DE-863 DE-BY-FWS |
| physical | 1 online resource (xx, 445 pages) : illustrations |
| psigel | ZDB-4-EBA |
| publishDate | 2001 |
| publishDateSearch | 2001 |
| publishDateSort | 2001 |
| publisher | MIT Press, |
| record_format | marc |
| spelling | Gollier, Christian. The economics of risk and time / Christian Gollier. Cambridge, Mass. : MIT Press, 2001. 1 online resource (xx, 445 pages) : illustrations text txt rdacontent computer c rdamedia online resource cr rdacarrier Includes bibliographical references (pages 429-440) and index. Print version record. The expected utility model -- Risk aversion -- Change in risk -- The standard portfolio problem -- The equilibrium price risk -- A hyperplane separation theorem -- Log-supermodularity -- Risk aversion with background risk -- The tempering effect of background risk -- Taking multiple risks -- The dynamic investment problem -- Special topics in dynamic finance -- The demand for contingent claims -- Risk on wealth -- Consumption under certainty -- Precautionary saving and prudence -- The equilibrium price of time -- The liquidity constraint -- The saving-portfolio problem -- Disentangling risk and time -- Efficient risk sharing -- The equilibrium price of risk and time -- Searching for the representative agent -- The value of information -- Decision making and information -- Information and equilibrium. This book updates and advances the theory of expected utility as applied to risk analysis and financial decision making. Von Neumann and Morgenstern pioneered the use of expected utility theory in the 1940s, but most utility functions used in financial management are still relatively simplistic and assume a mean-variance world. Taking into account recent advances in the economics of risk and uncertainty, this book focuses on richer applications of expected utility in finance, macroeconomics, and environmental economics. The book covers these topics: expected utility theory and related concepts; the standard portfolio problem of choice under uncertainty involving two different assets; P the basic hyperplane separation theorem and log-supermodular functions as technical tools for solving various decision-making problems under uncertainty; s choice involving multiple risks; the Arrow-Debreu portfolio problem; consumption and saving; the equilibrium price of risk and time in an Arrow-Debreu economy; and dynamic models of decision making when a flow of information on future risks is expected over time. The book is appropriate for both students and professionals. Concepts are presented intuitively as well as formally, and the theory is balanced by empirical considerations. Each chapter concludes with a problem set. English. Finance. http://id.loc.gov/authorities/subjects/sh85048256 Financial engineering. http://id.loc.gov/authorities/subjects/sh91003887 Risk. http://id.loc.gov/authorities/subjects/sh85114195 Risk assessment. http://id.loc.gov/authorities/subjects/sh87002638 Risk management. http://id.loc.gov/authorities/subjects/sh85114200 Risk https://id.nlm.nih.gov/mesh/D012306 Risk Assessment https://id.nlm.nih.gov/mesh/D018570 Risk Management https://id.nlm.nih.gov/mesh/D012308 Finances. Ingénierie financière. Risque. Évaluation du risque. Gestion du risque. finance. aat risk assessment. aat risk management. aat BUSINESS & ECONOMICS Insurance Risk Assessment & Management. bisacsh Finance fast Financial engineering fast Risk fast Risk assessment fast Risk management fast Erwarteter Nutzen gnd Financieel management. gtt Risicoanalyse. gtt Risicobeheersing. gtt Portfolio-theorie. gtt Bruikbaarheidstheorie. gtt ECONOMICS/Finance Leermiddelen (vorm) (NL-LeOCL)088143767 gtt has work: The economics of risk and time (Text) https://id.oclc.org/worldcat/entity/E39PCG8cwMdgJHwgHJhqXpKgTd https://id.oclc.org/worldcat/ontology/hasWork Print version: Gollier, Christian. Economics of risk and time. Cambridge, Mass. : MIT Press, 2001 0262072157 (DLC) 2001030213 (OCoLC)45958028 FWS01 ZDB-4-EBA FWS_PDA_EBA https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=62736 Volltext |
| spellingShingle | Gollier, Christian The economics of risk and time / The expected utility model -- Risk aversion -- Change in risk -- The standard portfolio problem -- The equilibrium price risk -- A hyperplane separation theorem -- Log-supermodularity -- Risk aversion with background risk -- The tempering effect of background risk -- Taking multiple risks -- The dynamic investment problem -- Special topics in dynamic finance -- The demand for contingent claims -- Risk on wealth -- Consumption under certainty -- Precautionary saving and prudence -- The equilibrium price of time -- The liquidity constraint -- The saving-portfolio problem -- Disentangling risk and time -- Efficient risk sharing -- The equilibrium price of risk and time -- Searching for the representative agent -- The value of information -- Decision making and information -- Information and equilibrium. Finance. http://id.loc.gov/authorities/subjects/sh85048256 Financial engineering. http://id.loc.gov/authorities/subjects/sh91003887 Risk. http://id.loc.gov/authorities/subjects/sh85114195 Risk assessment. http://id.loc.gov/authorities/subjects/sh87002638 Risk management. http://id.loc.gov/authorities/subjects/sh85114200 Risk https://id.nlm.nih.gov/mesh/D012306 Risk Assessment https://id.nlm.nih.gov/mesh/D018570 Risk Management https://id.nlm.nih.gov/mesh/D012308 Finances. Ingénierie financière. Risque. Évaluation du risque. Gestion du risque. finance. aat risk assessment. aat risk management. aat BUSINESS & ECONOMICS Insurance Risk Assessment & Management. bisacsh Finance fast Financial engineering fast Risk fast Risk assessment fast Risk management fast Erwarteter Nutzen gnd Financieel management. gtt Risicoanalyse. gtt Risicobeheersing. gtt Portfolio-theorie. gtt Bruikbaarheidstheorie. gtt |
| subject_GND | http://id.loc.gov/authorities/subjects/sh85048256 http://id.loc.gov/authorities/subjects/sh91003887 http://id.loc.gov/authorities/subjects/sh85114195 http://id.loc.gov/authorities/subjects/sh87002638 http://id.loc.gov/authorities/subjects/sh85114200 https://id.nlm.nih.gov/mesh/D012306 https://id.nlm.nih.gov/mesh/D018570 https://id.nlm.nih.gov/mesh/D012308 (NL-LeOCL)088143767 |
| title | The economics of risk and time / |
| title_auth | The economics of risk and time / |
| title_exact_search | The economics of risk and time / |
| title_full | The economics of risk and time / Christian Gollier. |
| title_fullStr | The economics of risk and time / Christian Gollier. |
| title_full_unstemmed | The economics of risk and time / Christian Gollier. |
| title_short | The economics of risk and time / |
| title_sort | economics of risk and time |
| topic | Finance. http://id.loc.gov/authorities/subjects/sh85048256 Financial engineering. http://id.loc.gov/authorities/subjects/sh91003887 Risk. http://id.loc.gov/authorities/subjects/sh85114195 Risk assessment. http://id.loc.gov/authorities/subjects/sh87002638 Risk management. http://id.loc.gov/authorities/subjects/sh85114200 Risk https://id.nlm.nih.gov/mesh/D012306 Risk Assessment https://id.nlm.nih.gov/mesh/D018570 Risk Management https://id.nlm.nih.gov/mesh/D012308 Finances. Ingénierie financière. Risque. Évaluation du risque. Gestion du risque. finance. aat risk assessment. aat risk management. aat BUSINESS & ECONOMICS Insurance Risk Assessment & Management. bisacsh Finance fast Financial engineering fast Risk fast Risk assessment fast Risk management fast Erwarteter Nutzen gnd Financieel management. gtt Risicoanalyse. gtt Risicobeheersing. gtt Portfolio-theorie. gtt Bruikbaarheidstheorie. gtt |
| topic_facet | Finance. Financial engineering. Risk. Risk assessment. Risk management. Risk Risk Assessment Risk Management Finances. Ingénierie financière. Risque. Évaluation du risque. Gestion du risque. finance. risk assessment. risk management. BUSINESS & ECONOMICS Insurance Risk Assessment & Management. Finance Financial engineering Risk assessment Risk management Erwarteter Nutzen Financieel management. Risicoanalyse. Risicobeheersing. Portfolio-theorie. Bruikbaarheidstheorie. Leermiddelen (vorm) |
| url | https://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&AN=62736 |
| work_keys_str_mv | AT gollierchristian theeconomicsofriskandtime AT gollierchristian economicsofriskandtime |