Business & Economics Books:

New Economics of Risk & Uncertainty

Theory & Applications



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New Economics of Risk & Uncertainty by Moawia Alghalith
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In this book, the author presents a completely alternative theoretical framework that can serve as the basis for a new age of economic analysis under risk and uncertainty. The new theory extends and simplifies the current and recent results. For example, he presents an endogenous theory that overcomes the major shortcomings of both the expected utility and the rank-dependent models while it possesses the merits of both. As another example, he presents a new definition of risk-aversion within the expected utility framework, where risk-aversion and diminishing marginal utility are not synonymous, and the (standard) statistical independence assumption is needless.
Release date Australia
June 1st, 2007
Country of Publication
United States
Nova Science Publishers Inc
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