New Methods in the Classical Economics of Uncertainty: Comparing Risks

Christian Gollier () and Miles Kimball

Working Papers from Toulouse - GREMAQ

Abstract: In addition to showing the connection between parallel contingent and noncontingent risk comparison problems, we articulate a method for solving both kinds of problems using the "basis" approach. The basis approach has often been used implicitly, but we argue that there is value to making its use explicit, particularly in indicating which new, previously unsolved problems can readily be solved by the basis approach and which cannot.

Keywords: ECONOMETRICS; UNCERTAINTY; RISK (search for similar items in EconPapers)
JEL-codes: C10 C19 D80 D81 (search for similar items in EconPapers)
Pages: 20 pages
Date: 1996
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Citations: View citations in EconPapers (7)

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Journal Article: New methods in the classical economics of uncertainty: comparing risks (2018)
Journal Article: New methods in the classical economics of uncertainty: comparing risks (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:fth:gremaq:96.412

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