The objective of this book is to present this analytical framework and to illustrate how it can be used in the investigation of economic decisions under risk. In a sense, the economics of risk is a difficult subject: it involves understanding human decisions in the absence of perfect information. How do we make decisions when we do not know some of events affecting us? The complexities of our uncertain world and of how humans obtain and process information make this difficult. In spite of these difficulties, much progress ...
Read More
The objective of this book is to present this analytical framework and to illustrate how it can be used in the investigation of economic decisions under risk. In a sense, the economics of risk is a difficult subject: it involves understanding human decisions in the absence of perfect information. How do we make decisions when we do not know some of events affecting us? The complexities of our uncertain world and of how humans obtain and process information make this difficult. In spite of these difficulties, much progress has been made. First, probability theory is the corner stone of risk assessment. This allows us to measure risk in a fashion that can be communicated among decision makers or researchers. Second, risk preferences are now better understood. This provides useful insights into the economic rationality of decision making under uncertainty. Third, over the last decades, good insights have been developed about the value of information. This helps better understand the role of information in human decision making and this book provides a systematic treatment of these issues in the context of both private and public decisions under uncertainty. * Balanced treatment of conceptual models and applied analysis * Considers both private and public decisions under uncertainty * Website presents application exercises in EXCEL
Read Less
Add this copy of Risk Analysis in Theory and Practice to cart. $31.69, new condition, Sold by Media Smart rated 4.0 out of 5 stars, ships from Hawthorne, CA, UNITED STATES, published 2004 by Elsevier.
Add this copy of Risk Analysis in Theory and Practice to cart. $46.50, new condition, Sold by discount_scientific_books rated 3.0 out of 5 stars, ships from Sterling Heights, MI, UNITED STATES, published 2004 by Academic Press.
Add this copy of Risk Analysis in Theory and Practice to cart. $49.95, new condition, Sold by textsforsale rated 4.0 out of 5 stars, ships from Houston, TX, UNITED STATES, published 2004 by Academic Press.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
100% BRAND NEW US HARDCOVER STUDENT Edition / Mint condition / Never been read / ISBN-13: 9780121706210 / Shipped out in one business day with free tracking.
Add this copy of Risk Analysis in Theory and Practice to cart. $50.13, new condition, Sold by discount_scientific_books rated 3.0 out of 5 stars, ships from Sterling Heights, MI, UNITED STATES, published 2004 by Academic Press.
