The Resource The economics of risk and time, Christian Gollier
The economics of risk and time, Christian Gollier
Resource Information
The item The economics of risk and time, Christian Gollier represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University of Missouri-St. Louis Libraries.This item is available to borrow from 1 library branch.
Resource Information
The item The economics of risk and time, Christian Gollier represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in University of Missouri-St. Louis Libraries.
This item is available to borrow from 1 library branch.
- Summary
- This book updates and advances the theory of expected utility as applied to risk analysis and financial decision making. Von Neumann and Morgenstern pioneered the use of expected utility theory in the 1940s, but most utility functions used in financial management are still relatively simplistic and assume a mean-variance world. Taking into account recent advances in the economics of risk and uncertainty, this book focuses on richer applications of expected utility in finance, macroeconomics, and environmental economics.The book covers these topics: expected utility theory and related concepts; the standard portfolio problem of choice under uncertainty involving two different assets; P the basic hyperplane separation theorem and log-supermodular functions as technical tools for solving various decision-making problems under uncertainty; s choice involving multiple risks; the Arrow-Debreu portfolio problem; consumption and saving; the equilibrium price of risk and time in an Arrow-Debreu economy; and dynamic models of decision making when a flow of information on future risks is expected over time. The book is appropriate for both students and professionals. Concepts are presented intuitively as well as formally, and the theory is balanced by empirical considerations. Each chapter concludes with a problem set
- Language
- eng
- Extent
- 1 online resource (xx, 445 pages)
- Contents
-
- The expected utility model
- Risk aversion
- Change in risk
- The standard portfolio problem
- The equilibrium price risk
- A hyperplane separation theorem
- Log-supermodularity
- Risk aversion with background risk
- The tempering effect of background risk
- Taking multiple risks
- The dynamic investment problem
- Special topics in dynamic finance
- The demand for contingent claims
- Risk on wealth
- Consumption under certainty
- Precautionary saving and prudence
- The equilibrium price of time
- The liquidity constraint
- The saving-portfolio problem
- Disentangling risk and time
- Efficient risk sharing
- The equilibrium price of risk and time
- Searching for the representative agent
- The value of information
- Decision making and information
- Information and equilibrium
- Isbn
- 9780262274043
- Label
- The economics of risk and time
- Title
- The economics of risk and time
- Statement of responsibility
- Christian Gollier
- Subject
-
- Bruikbaarheidstheorie
- ECONOMICS/Finance
- Electronic books
- Erwarteter Nutzen
- Finance
- Finance
- Financial engineering
- Financial engineering
- Financieel management
- Leermiddelen (vorm)
- BUSINESS & ECONOMICS -- Insurance | Risk Assessment & Management
- Risicoanalyse
- Risicobeheersing
- Risk
- Risk
- Risk assessment
- Risk assessment
- Risk management
- Risk management
- Portfolio-theorie
- Language
- eng
- Summary
- This book updates and advances the theory of expected utility as applied to risk analysis and financial decision making. Von Neumann and Morgenstern pioneered the use of expected utility theory in the 1940s, but most utility functions used in financial management are still relatively simplistic and assume a mean-variance world. Taking into account recent advances in the economics of risk and uncertainty, this book focuses on richer applications of expected utility in finance, macroeconomics, and environmental economics.The book covers these topics: expected utility theory and related concepts; the standard portfolio problem of choice under uncertainty involving two different assets; P the basic hyperplane separation theorem and log-supermodular functions as technical tools for solving various decision-making problems under uncertainty; s choice involving multiple risks; the Arrow-Debreu portfolio problem; consumption and saving; the equilibrium price of risk and time in an Arrow-Debreu economy; and dynamic models of decision making when a flow of information on future risks is expected over time. The book is appropriate for both students and professionals. Concepts are presented intuitively as well as formally, and the theory is balanced by empirical considerations. Each chapter concludes with a problem set
- Cataloging source
- N$T
- http://library.link/vocab/creatorName
- Gollier, Christian
- Dewey number
- 658.15/5
- Illustrations
- illustrations
- Index
- index present
- Language note
- English
- LC call number
- HG101
- LC item number
- .G65 2001eb
- Literary form
- non fiction
- Nature of contents
-
- dictionaries
- bibliography
- http://library.link/vocab/subjectName
-
- Finance
- Financial engineering
- Risk
- Risk assessment
- Risk management
- BUSINESS & ECONOMICS
- Finance
- Financial engineering
- Risk
- Risk assessment
- Risk management
- Erwarteter Nutzen
- Financieel management
- Risicoanalyse
- Risicobeheersing
- Portfolio-theorie
- Bruikbaarheidstheorie
- Label
- The economics of risk and time, Christian Gollier
- Bibliography note
- Includes bibliographical references (pages 429-440) and index
- Carrier category
- online resource
- Carrier category code
-
- cr
- Carrier MARC source
- rdacarrier
- Color
- multicolored
- Content category
- text
- Content type code
-
- txt
- Content type MARC source
- rdacontent
- Contents
- The expected utility model -- Risk aversion -- Change in risk -- The standard portfolio problem -- The equilibrium price risk -- A hyperplane separation theorem -- Log-supermodularity -- Risk aversion with background risk -- The tempering effect of background risk -- Taking multiple risks -- The dynamic investment problem -- Special topics in dynamic finance -- The demand for contingent claims -- Risk on wealth -- Consumption under certainty -- Precautionary saving and prudence -- The equilibrium price of time -- The liquidity constraint -- The saving-portfolio problem -- Disentangling risk and time -- Efficient risk sharing -- The equilibrium price of risk and time -- Searching for the representative agent -- The value of information -- Decision making and information -- Information and equilibrium
- Control code
- 49569490
- Dimensions
- unknown
- Extent
- 1 online resource (xx, 445 pages)
- Form of item
- online
- Isbn
- 9780262274043
- Media category
- computer
- Media MARC source
- rdamedia
- Media type code
-
- c
- Other physical details
- illustrations
- http://library.link/vocab/ext/overdrive/overdriveId
-
- 2622
- 9780262274043
- Specific material designation
- remote
- System control number
- (OCoLC)49569490
- Label
- The economics of risk and time, Christian Gollier
- Bibliography note
- Includes bibliographical references (pages 429-440) and index
- Carrier category
- online resource
- Carrier category code
-
- cr
- Carrier MARC source
- rdacarrier
- Color
- multicolored
- Content category
- text
- Content type code
-
- txt
- Content type MARC source
- rdacontent
- Contents
- The expected utility model -- Risk aversion -- Change in risk -- The standard portfolio problem -- The equilibrium price risk -- A hyperplane separation theorem -- Log-supermodularity -- Risk aversion with background risk -- The tempering effect of background risk -- Taking multiple risks -- The dynamic investment problem -- Special topics in dynamic finance -- The demand for contingent claims -- Risk on wealth -- Consumption under certainty -- Precautionary saving and prudence -- The equilibrium price of time -- The liquidity constraint -- The saving-portfolio problem -- Disentangling risk and time -- Efficient risk sharing -- The equilibrium price of risk and time -- Searching for the representative agent -- The value of information -- Decision making and information -- Information and equilibrium
- Control code
- 49569490
- Dimensions
- unknown
- Extent
- 1 online resource (xx, 445 pages)
- Form of item
- online
- Isbn
- 9780262274043
- Media category
- computer
- Media MARC source
- rdamedia
- Media type code
-
- c
- Other physical details
- illustrations
- http://library.link/vocab/ext/overdrive/overdriveId
-
- 2622
- 9780262274043
- Specific material designation
- remote
- System control number
- (OCoLC)49569490
Subject
- Bruikbaarheidstheorie
- ECONOMICS/Finance
- Electronic books
- Erwarteter Nutzen
- Finance
- Finance
- Financial engineering
- Financial engineering
- Financieel management
- Leermiddelen (vorm)
- BUSINESS & ECONOMICS -- Insurance | Risk Assessment & Management
- Risicoanalyse
- Risicobeheersing
- Risk
- Risk
- Risk assessment
- Risk assessment
- Risk management
- Risk management
- Portfolio-theorie
Genre
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.umsl.edu/portal/The-economics-of-risk-and-time-Christian/oV-_5e9L3u0/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.umsl.edu/portal/The-economics-of-risk-and-time-Christian/oV-_5e9L3u0/">The economics of risk and time, Christian Gollier</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.umsl.edu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.umsl.edu/">University of Missouri-St. Louis Libraries</a></span></span></span></span></div>
