eBook - PDF

Risk Analysis in Theory and Practice

Name: Risk Analysis in Theory and Practice
ISBN: 9780080516332

Jean-Paul Chavas,

247 pages
English
PDF
Available on iOS & Android

eBook - PDF

Risk Analysis in Theory and Practice

Jean-Paul Chavas,

About this book

The objective of Risk Analysis in Theory and Practice 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

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Yes, you can access Risk Analysis in Theory and Practice by Jean-Paul Chavas in PDF and/or ePUB format, as well as other popular books in Economics & Microeconomics. We have over one million books available in our catalogue for you to explore.