The utility and risks around uncertainty
Transferable Utility Games with Uncertainty
... In this paper we have introduced uncertainty into transferable utility games. Since in reality most surplus sharing decisions are made under uncertainty, this is a natural and important extension. It ...
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Transferable Utility Games with Uncertainty
... In this paper we have introduced uncertainty into transferable utility games. Since in reality most surplus sharing decisions are made under uncertainty, this is a natural and important extension. It ...
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Taking risks in the face of uncertainty
... between uncertainty and fi rms' risk-taking behav- iour has been a focus of investigation since the early work of Knight (1921) and discussion of the nature of business ...Knight, uncertainty was always ...
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Forecasting Investment Risks in Conditions of Uncertainty
... casting risks of investment activity of enterprises in conditions of ...investment risks has helped to reveal certain shortcomings of the pro- posed approaches, to note in most of the publications there are ...
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Correlated risks, bivariate utility and optimal choices
... of risks increases in the bivariate increasing concave dominance rules of higher degrees which express the common preferences of all the decision-makers whose two- argument utility function possesses direct ...
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Expected Utility theory and the tyranny of catastrophic risks
... the utility function could prevent expected utility to become ...any utility function that is bounded below al- ways gives a finite value of expected ...exponential utility functions and for ...
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Qualitative decision under uncertainty: back to expected utility
... Giving up the quantification of utility and uncertainty has led to give up the expected utility EU criterion as well: the principle of most theories of qualitative decision making is to [r] ...
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New methods in the classical economics of uncertainty : Comparing risks
... of uncertainty encompasses a large number of seemingly disparate ...of uncertainty is a technically difficult field, and its results are proved in a wide variety of ways, a substantial effort has been ...
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Pricing Dynamic Insurance Risks Using the Principle of Equivalent Utility
... equivalent utility to price dynamic insurance ...the risks that cannot be eliminated through trading in the nancial ...a utility function of terminal wealth. We denote both utility functions ...
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Not a fallacy of the law of large numbers : pooling risks and the utility of insurance
... Pooling risks together is considered the essence of insurance, and numerous papers 2 have analyzed the effects of risk pooling 3 ...exponential utility function, mutual insurance) and do not perform a ...
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Controlled Stochastic Differential Equations under Poisson Uncertainty and with Unbounded Utility
... where uncertainty stems from one or more independent Poisson ...bounded utility function and bounded coefficients in the controlled differential ...the utility function and the coefficients are ...
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Valuing Non-fatal Health Risks: Monetary and Health-Utility Measures
... In sum, the strongly nonlinear relationship between elicited monetary and health-utility measures of the value of reducing health risk points to questions about the extent to which values elicited from the public ...
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Perceived Benefits, Risks, and Utility of Newborn Genomic Sequencing in the BabySeq Project
... the risks and benefits of GS provide some additional insight into the way they perceive ...the uncertainty associated with genomic information and many times linked that to parents’ distress, suggesting ...
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CLIMAFIN handbook: pricing forward-looking climate risks under uncertainty
... climate risks in financial markets and investors’ portfolios depends from the orderly introduction of climate policies and the scaling up of financial investments in low-carbon ...between uncertainty of ...
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On the uncertainty and risks of macroeconomic forecasts: Combining judgements with sample and model information
... Although it may be implemented with interim multipliers and forecasting errors estimated from a single econometric model, our approach was designed for institutional settings char- acterized by the use of several models ...
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Notes on Uncertainty and Expected Utility
... We can, however, construct a coherent theory of “subjective probability” that seems to correspond to the way that a systematic rational decision- maker would organize his thoughts about uncertain events. One theory of ...
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Statistics: Its Utility, Its Risks
... the risks of using statis- tics quite powerful, all quite sober, fundamental, and radically serious, one, human errors that cannot be stamped out infests science and statistics, two, mathematics our apodictic ...
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Elicitation of Expert Opinions for Uncertainty and Risks
... As our society advances in many scientific dimensions and invents new technologies, human knowledge is being expanded through observation, discovery, information gathering, and logic. Also, the access to newly gen- erated ...
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Project Risks. Risk Management. Characteristics of Risks. Why Software Development has Risks? Uncertainty Loss
... Generic Risks & Product-specific Risks Generic Risks are a potential threat to every software ...Product-specific risks can be identified only by those with a clear understanding of the ...
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The Fatality Risks of Sport-Utility Vehicles, Vans, and Pickups *
... A significant complication in estimating the determinants of traffic fatalities is the unavailability of reliable data of non-fatal crashes. Relying only on data of fatal crashes could result in a sample selection bias. ...
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