Risk Aversion in Experiments PDF Download
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Author: G.W. Harrison
Publisher: Emerald Group Publishing
ISBN: 0762313846
Category : Business & Economics
Languages : en
Pages : 449
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Book Description
Presents research utilizing laboratory experimental methods in economics.
Author: G.W. Harrison
Publisher: Emerald Group Publishing
ISBN: 0762313846
Category : Business & Economics
Languages : en
Pages : 449
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Book Description
Presents research utilizing laboratory experimental methods in economics.
Author: Kenneth R. Maccrimmon
Publisher: Simon and Schuster
ISBN: 0029195632
Category : Business & Economics
Languages : en
Pages : 404
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Book Description
Offers tests designed to measure one's willingness to take risks, describes characteristics associated with this quality, and discusses the importance of risk-taking in management and investment situations.
Author: Baranoff
Publisher:
ISBN: 9781936126187
Category : Electronic book
Languages : en
Pages :
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Book Description
Author: Dr David Hillson
Publisher: Gower Publishing, Ltd.
ISBN: 1409450503
Category : Business & Economics
Languages : en
Pages : 207
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Book Description
Despite many years of development, risk management remains problematic for the majority of organizations. One common challenge is the human dimension, in other words, the way people perceive risk and risk management. Risk management processes and techniques are operated by people, each of whom is a complex individual, influenced by many different factors. And the problem is compounded by the fact that most risk management involves people working in groups. This introduces further layers of complexity through relationships and group dynamics. David Hillson's and Ruth Murray-Webster's Understanding and Managing Risk Attitude will help you understand the human aspects of risk management and to manage proactively the influence of human behaviour on the risk process. The authors introduce a range of models, perspectives and examples to define and detail the range of possible risk attitudes; looking both at individuals and groups. Using leading-edge thinking on self-awareness and emotional literacy, they develop a powerful approach to address the most common shortfall in current risk management: the failure to manage the human aspects of the process. All this is presented in a practical and applied framework, rather than as a theoretical or academic treatise, based on the authors' shared experiences and expertise, rather than empirical research. Anyone involved in implementing risk management will benefit from this book, including risk practitioners, senior managers and directors responsible for corporate governance, project managers and their teams. It is also essential reading for HR professionals and others interested in organizational or behavioural psychology. This second edition is updated to strengthen the understanding of individual risk attitudes and reinforce what individuals can do to manage those risk attitudes that are leading them away from their objectives. For people who want to embrace this subject, the book highlights ways forward that are proven and practical.
Author: Laura Concina
Publisher: FonCSI
ISBN:
Category : Technology & Engineering
Languages : en
Pages : 55
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Book Description
This document is an introduction, for non-economists, to standard and behavioral economic theories of risk and uncertainty. It describes some broadly-accepted results in economics that are determinant in decision-making under risk or uncertainty and in situations where we have to deal with losses and gains. To illustrate this point, the document presents a selection of theoretical results, ponctuated with examples taken from everyday life, and research studies in economics and psychology on the perception of risk.
Author: Henrik Hult
Publisher: Springer Science & Business Media
ISBN: 146144103X
Category : Mathematics
Languages : en
Pages : 343
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Book Description
Investment and risk management problems are fundamental problems for financial institutions and involve both speculative and hedging decisions. A structured approach to these problems naturally leads one to the field of applied mathematics in order to translate subjective probability beliefs and attitudes towards risk and reward into actual decisions. In Risk and Portfolio Analysis the authors present sound principles and useful methods for making investment and risk management decisions in the presence of hedgeable and non-hedgeable risks using the simplest possible principles, methods, and models that still capture the essential features of the real-world problems. They use rigorous, yet elementary mathematics, avoiding technically advanced approaches which have no clear methodological purpose and are practically irrelevant. The material progresses systematically and topics such as the pricing and hedging of derivative contracts, investment and hedging principles from portfolio theory, and risk measurement and multivariate models from risk management are covered appropriately. The theory is combined with numerous real-world examples that illustrate how the principles, methods, and models can be combined to approach concrete problems and to draw useful conclusions. Exercises are included at the end of the chapters to help reinforce the text and provide insight. This book will serve advanced undergraduate and graduate students, and practitioners in insurance, finance as well as regulators. Prerequisites include undergraduate level courses in linear algebra, analysis, statistics and probability.
Author: Francesca Biagini
Publisher: Springer Science & Business Media
ISBN: 1447149262
Category : Business & Economics
Languages : en
Pages : 93
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Book Description
Risk has been described in the past by a simple measure, such as the variance, and risk attitude is often considered simply a degree of risk aversion. However, this viewpoint is usually not sufficient. Risk Measures and Attitudes collects contributions which illustrate how modern approaches to both risk measures and risk attitudes are inevitably intertwined. The settings under which this is discussed include portfolio choice, mitigating credit risk and comparing risky alternatives. This book will be a useful study aid for students and researchers of actuarial science or risk management as well as practitioners.
Author: Rafaela Hillerbrand
Publisher: Springer Science & Business Media
ISBN: 9400714335
Category : Science
Languages : en
Pages : 1209
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Book Description
Risk has become one of the main topics in fields as diverse as engineering, medicine and economics, and it is also studied by social scientists, psychologists and legal scholars. But the topic of risk also leads to more fundamental questions such as: What is risk? What can decision theory contribute to the analysis of risk? What does the human perception of risk mean for society? How should we judge whether a risk is morally acceptable or not? Over the last couple of decades questions like these have attracted interest from philosophers and other scholars into risk theory. This handbook provides for an overview into key topics in a major new field of research. It addresses a wide range of topics, ranging from decision theory, risk perception to ethics and social implications of risk, and it also addresses specific case studies. It aims to promote communication and information among all those who are interested in theoetical issues concerning risk and uncertainty. This handbook brings together internationally leading philosophers and scholars from other disciplines who work on risk theory. The contributions are accessibly written and highly relevant to issues that are studied by risk scholars. We hope that the Handbook of Risk Theory will be a helpful starting point for all risk scholars who are interested in broadening and deepening their current perspectives.
Author:
Publisher:
ISBN:
Category : Attitude (Psychology)
Languages : en
Pages :
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Book Description
"This paper presents new evidence on the distribution of risk attitudes in the population, using a novel set of survey questions and a representative sample of roughly 22,000 individuals living in Germany. Using a question that asks about willingness to take risks on an 11-point scale, we find evidence of heterogeneity across individuals, and show that willingness to take risks is negatively related to age and being female, and positively related to parental education and height. We test the behavioral relevance of this survey measure by conducting a complementary field experiment, based on a representative sample of 450 subjects, and find that the measure is a good predictor of actual risk-taking behavior. We use a more standard lottery question to measure risk preference, and find similar results regarding heterogeneity and determinants of risk preferences. We also estimate the coefficient of relative risk aversion for each individual in the sample based on lottery responses. Using five questions about willingness to take risks in specific domains -- car driving, financial matters, sports and leisure, career, and health -- the paper studies the impact of context on risk attitudes, finding a strong but imperfect correlation across contexts. Using data on a collection of risky behaviors from different contexts, including traffic offenses, portfolio choice, smoking, occupational choice, participation in sports, and migration, the paper compares the predictive power of all of the risk measures. Strikingly, the general risk question predicts all behaviors whereas the standard lottery measure does not. The best overall predictor for any specific behavior is typically the corresponding context-specific measure. These findings call into the question the current preoccupation with lottery measures of risk preference, and point to variation in risk perceptions as an understudied determinant of risky behavior"--Forschungsinstitut zur Zukunft der Arbeit web site.
Author: Graeme Laurie
Publisher:
ISBN: 1108576095
Category : Law
Languages : en
Pages : 444
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Book Description
The definitive reference guide to designing scientifically sound and ethically robust medical research, considering legal, ethical and practical issues.
