Parametric Characterizations of Risk Aversion and Prudence
Author : Fatma Lajeri
Publisher :
Page : 32 pages
File Size : 43,71 MB
Release : 1997
Category : Attitude (Psychology)
ISBN :
Author : Fatma Lajeri
Publisher :
Page : 32 pages
File Size : 43,71 MB
Release : 1997
Category : Attitude (Psychology)
ISBN :
Author : Thomas Eichner
Publisher :
Page : pages
File Size : 44,64 MB
Release : 2001
Category :
ISBN :
This note provides an alternative proof for the equivalence of decreasing absolute prudence (DAP) in the expected utility framework and in a two-parametric approach where utility is a function of the mean and the standard deviation. In addition, we elucidate that the equivalence of DAP and the concavity of utility as a function of mean and variance, which was shown to hold for normally distributed stochastics in Lajeri and Nielsen [Economic Theory 15 (2000), 469-476], cannot be generalized.
Author : Thomas Eichner
Publisher :
Page : 10 pages
File Size : 28,67 MB
Release : 2001
Category :
ISBN :
Author : Ershi Qi
Publisher : Springer
Page : 419 pages
File Size : 34,66 MB
Release : 2015-01-19
Category : Business & Economics
ISBN : 9462391009
The 5th International Asia Conference on Industrial Engineering and Management Innovation is sponsored by the Chinese Industrial Engineering Institution and organized by Xi’an Jiaotong University. The conference aims to share and disseminate information on the most recent and relevant researches, theories and practices in industrial and system engineering to promote their development and application in university and enterprises.
Author : Songsak Sriboonchita
Publisher : CRC Press
Page : 455 pages
File Size : 24,72 MB
Release : 2009-10-19
Category : Business & Economics
ISBN : 9781420082678
Drawing from many sources in the literature, Stochastic Dominance and Applications to Finance, Risk and Economics illustrates how stochastic dominance (SD) can be used as a method for risk assessment in decision making. It provides basic background on SD for various areas of applications. Useful Concepts and Techniques for Economics ApplicationsThe
Author :
Publisher :
Page : 216 pages
File Size : 48,58 MB
Release : 1998
Category : Economic policy
ISBN :
Author : Thorsten Hens
Publisher : Springer Science & Business Media
Page : 313 pages
File Size : 16,29 MB
Release : 2013-03-09
Category : Business & Economics
ISBN : 1475753179
The purpose of this book is to give a sound economic foundation of finance. Finance is a coherent branch of applied economics that is designed to understand financial markets in order to give advice for practical financial decisions. This book argues that for a sound economic foundation of finance the famous general equilibrium model which in its modern form emphasizes the incompleteness of financial markets is well suited. The aim of the book is to demonstrate that financial markets can be meaningfully embedded into a more general system of markets including, for example, commodity markets. The interaction of these markets can be described via the well known notion of a competitive equilibrium. We argue that for a sound foundation this competitive equilibrium should be unique. In a first step we demonstrate that this essential goal cannot of be achieved based only on the rationality principle, i. e. on the assumption utility maximization of some utility function subject to the budget constraint. In particular we show that this important lack of structure is disturbing as well for the case of mean-variance utility functions which are the basis of the Capital Asset Pricing Model, one of the cornerstones of finance. The final goal of our book is to give reasonable restrictions on the agents' utility functions which lead to a well determined financial markets model.
Author : Henry Conrad Wurts
Publisher :
Page : 130 pages
File Size : 37,54 MB
Release : 1999
Category :
ISBN :
Author : G.W. Harrison
Publisher : Emerald Group Publishing
Page : 449 pages
File Size : 38,22 MB
Release : 2008-02-29
Category : Business & Economics
ISBN : 1849505470
Presents research utilizing laboratory experimental methods in economics.
Author : Donald J. Meyer
Publisher : Now Publishers Inc
Page : 112 pages
File Size : 12,52 MB
Release : 2006
Category : Business & Economics
ISBN : 193301945X
Provides a detailed discussion of the adjustment of risk references and how to go about making such adjustments to a common scale. By adjusting all information to this common scale, results across studies can be easily summarized and compared, and the body of information concerning risk aversion can be examined as a whole