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Book synopsis

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.

Book details

Book category Books in English Economics, finance, business & management Economics Economic theory & philosophy

• Full title: Axiomatic Utility Theory under Risk
• Subtitle: Non-Archimedean Representations and Application to Insurance Economics
• Author: Ulrich Schmidt
• Language: English
• Binding: Paperback
• Number of pages: 228
• EAN: 9783540643197
• ISBN: 3540643192
• ID: 01566632
• Publisher: Springer-Verlag Berlin and Heidelberg GmbH & Co. KG
• Weight: 720 g
• Dimensions: 235 × 155 × 13 mm
• Date of publishing: 20. May 1998

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