Essays in the Theory of Risk-bearingNorth-Holland, 1971 - 278 pages Alternative approaches to the theory of chice in risk-taking situations; Exposition of the theory of choice under uncertainty; The theory of risk aversion; The role of securities in the optimal allocation of risk-bearing; Insurance, risk, and resource allocation; Economic welfare and the allocation of resources to invention; Control in large orgationations. |
Table des matières
Alternative Approaches to the Theory of Choice | 1 |
Exposition of the Theory of Choice Under Uncer | 44 |
The Theory of Risk Aversion | 90 |
Droits d'auteur | |
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action activities amount argued assumed assumption behavior under uncertainty benefits and costs c₁ certainty choose commodity competitive conditional distribution conditional probability distributions consequences consider cost of risk-bearing decisions decreasing defined demand discount discussion E₁ Econometrica economic Ei+1 existence expected return expected utility expected value F₁ finite follows given H₁ Hence Hirshleifer hold hypothesis implies income increasing indifferent individual insurance policy law of large Lemma limited marginal utility Marschak maximize measure monotone decreasing moral hazard optimal allocation organization outcome output perfect competition physician possible potential surprise preferred price discrimination price system priori probabilities probability distribution probability measure problem production profits public investment random variable rate of return relative risk aversion risky asset Section secure asset sequence shift social statistical sufficiently large Suppose theorem tion utility function welfare welfare economics X₁ yield zero