Preference Representations for Catastrophic Risk Analysis

Richard E. Ericson () and Jamie L. Kruse ()
Additional contact information
Richard E. Ericson: East Carolina University
Jamie L. Kruse: East Carolina University

A chapter in The Economics of the Global Environment, 2016, pp 39-69 from Springer

Abstract: Abstract This note surveys some behavioral models of preference relations applicable for analysis of decisions in the face of catastrophic risk. Catastrophic risk is characterized, and the implications of various representations explored in simple, illustrative examples. An argument is presented for the more general applicability of “variational preferences” for the analysis of behavior and decision making in the face of catastrophic risk.

Keywords: Expected Utility; Variational Preference; Ambiguity Aversion; Certainty Equivalent; Preference Representation (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:steccp:978-3-319-31943-8_3

Ordering information: This item can be ordered from
http://www.springer.com/9783319319438

DOI: 10.1007/978-3-319-31943-8_3

Access Statistics for this chapter

More chapters in Studies in Economic Theory from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().