Axiomatic Utility Theory under Risk: Non-Archimedean Representations and Application to Insurance Economics
Author:   Ulrich Schmidt
Publisher:   Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
Edition:   1998 ed.
Volume:   461
ISBN:  

9783540643197


Pages:   228
Publication Date:   20 May 1998
Format:   Paperback
Availability:   Out of print, replaced by POD   Availability explained
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Axiomatic Utility Theory under Risk: Non-Archimedean Representations and Application to Insurance Economics


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Overview

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.

Full Product Details

Author:   Ulrich Schmidt
Publisher:   Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
Imprint:   Springer-Verlag Berlin and Heidelberg GmbH & Co. K
Edition:   1998 ed.
Volume:   461
Dimensions:   Width: 15.50cm , Height: 1.20cm , Length: 23.50cm
Weight:   0.720kg
ISBN:  

9783540643197


ISBN 10:   3540643192
Pages:   228
Publication Date:   20 May 1998
Audience:   College/higher education ,  Professional and scholarly ,  Undergraduate ,  Postgraduate, Research & Scholarly
Format:   Paperback
Publisher's Status:   Active
Availability:   Out of print, replaced by POD   Availability explained
We will order this item for you from a manufatured on demand supplier.

Table of Contents

A Survey: Introduction; The General Framework; Expected Utility Theory; Generalizations of Expected Utility; Conclusions.- Non-Archimedean Representations: Introduction; Lexicographic Expected Utility; Expected Utility with Certainty Preference; Expected Utility on Restricted Sets; Conclusions.- Application to Insurance Economics: Introduction; Two-Outcome Diagrams; Demand for Coinsurance; Bilateral Risk Sharing; Agency Theory; Conclusions.

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