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Axiomatic Utility Theory under Risk

- Non-Archimedean Representations and Application to Insurance Economics

af Ulrich Schmidt

indgår i Lecture Notes in Economics and Mathematical Systems serien

Axiomatic Utility Theory under Risk af Ulrich Schmidt
Bag om Axiomatic Utility Theory under Risk

The first attempts to develop a utility theory for choice situations under risk were undertaken by Cramer (1728) and Bernoulli (1738). 199-201) proposed that the expected monetary value has to be replaced by the expected utility ("moral expectation") as the relevant criterion for decision making under risk.

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  • Sprog:
  • Engelsk
  • ISBN:
  • 9783540643197
  • Indbinding:
  • Paperback
  • Sideantal:
  • 228
  • Udgivet:
  • 20. maj 1998
  • Udgave:
  • 1998
  • Størrelse:
  • 234x156x12 mm.
  • Vægt:
  • 720 g.
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Forventet levering: 8. november 2024

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The first attempts to develop a utility theory for choice situations under risk were undertaken by Cramer (1728) and Bernoulli (1738). 199-201) proposed that the expected monetary value has to be replaced by the expected utility ("moral expectation") as the relevant criterion for decision making under risk.

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