Axiomatic Utility Theory under Risk

Non-Archimedean Representations and Application to Insurance Economics

Häftad, Engelska, 1998

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The book consists of three parts: The first part reviews the development in axiomatic utility theory under risk since the axiomatization of expected utility by von Neumann and Morgenstein. The second part explores some approaches to represent preferences which exhibit boundary effects. The third part shows that many results of insurance economics derived in the expected utility framework do not remain valid with non-expected utility theory.

Produktinformation

Utgivningsdatum1998-05-20
Mått155 x 235 x 13 mm
Vikt353 g
FormatHäftad
SpråkEngelska
SerieLecture Notes in Economics and Mathematical Systems
Antal sidor228
Upplaga1998
FörlagSpringer-Verlag Berlin and Heidelberg GmbH & Co. KG
ISBN9783540643197

Tillhör följande kategorier

1 A Survey.- 1.1 Introduction.- 1.2 The General Framework.- 1.3 Expected Utility Theory.- 1.4 Generalizations of Expected Utility.- 1.5 Conclusions.- 2 Non-Archimedean Representations.- 2.1 Introduction.- 2.2 Lexicographic Expected Utility.- 2.3 Expected Utility with Certainty Preference.- 2.4 Expected Utility on Restricted Sets.- 2.5 Conclusions.- 3 Application to Insurance Economics.- 3.1 Introduction.- 3.2 Two-Outcome Diagrams.- 3.3 Demand for Coinsurance.- 3.4 Bilateral Risk Sharing.- 3.5 Agency Theory.- 3.6 Conclusions.- References.- List of Symbols.- List of Abbreviations.- List of Figures.