Axiomatic Utility Theory under Risk: Non-Archimedean Representations and Application to Insurance Economics - Lecture Notes in Economics and Mathematical Systems - Ulrich Schmidt - Books - Springer-Verlag Berlin and Heidelberg Gm - 9783540643197 - May 20, 1998
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Ulrich Schmidt
Axiomatic Utility Theory under Risk: Non-Archimedean Representations and Application to Insurance Economics - Lecture Notes in Economics and Mathematical Systems 1998 edition

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The first attempts to develop a utility theory for choice situations under risk were undertaken by Cramer (1728) and Bernoulli (1738). 199-201) proposed that the expected monetary value has to be replaced by the expected utility ("moral expectation") as the relevant criterion for decision making under risk.

228 pages, biography

Media Books     Paperback Book   (Book with soft cover and glued back)
Released May 20, 1998
ISBN13 9783540643197
Publishers Springer-Verlag Berlin and Heidelberg Gm
Pages 228
Dimensions 155 × 235 × 12 mm   ·   326 g
Language English  

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