Decisions under risk

Harald Wiese ()
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Harald Wiese: Universität Leipzig

Chapter Chapter 5 in Advanced Microeconomics, 2021, pp 93-126 from Springer

Abstract: Abstract So far, we have considered decision theory under certainty or for risk neutrality. In this chapter, we focus on the risk attitude of the agents. The model presented by von Neuman and Morgenstern allows to formalize risk aversion and risk loving.

Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-658-34959-2_5

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DOI: 10.1007/978-3-658-34959-2_5

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