ECONOMIC AND FINANCIAL DECISIONS UNDER RISK EECKHOUDT PDF

This book represents a concise summary of basic multiperiod decision-making under risk. Its detailed coverage of a broad range of topics is ideally suited for use in advanced undergraduate and introductory graduate courses either as a self-contained text, or the introductory chapters combined with a selection of later chapters can represent core reading in courses on macroeconomics, insurance, portfolio choice, or asset pricing. The authors start with the fundamentals of risk measurement and risk aversion. They then apply these concepts to insurance decisions and portfolio choice in a one-period model. After examining these decisions in their one-period setting, they devote most of the book to a multiperiod context, which adds the long-term perspective most risk management analyses require.

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About this title An understanding of risk and how to deal with it is an essential part of modern economics. This book represents a concise summary of basic multiperiod decision-making under risk. Its detailed coverage of a broad range of topics is ideally suited for use in advanced undergraduate and introductory graduate courses either as a self-contained text, or the introductory chapters combined with a selection of later chapters can represent core reading in courses on macroeconomics, insurance, portfolio choice, or asset pricing.

The authors start with the fundamentals of risk measurement and risk aversion. They then apply these concepts to insurance decisions and portfolio choice in a one-period model.

After examining these decisions in their one-period setting, they devote most of the book to a multiperiod context, which adds the long-term perspective most risk management analyses require.

Each chapter concludes with a discussion of the relevant literature and a set of problems. The book presents a thoroughly accessible introduction to risk, bridging the gap between the traditionally separate economics and finance literatures.

Samuelson Award. The three authors are each a past editor of the Geneva Papers on Risk and Insurance Theory, and they have previously collaborated on papers appearing in Econometrica, the Journal of Economic Theory, Management Science, and the Journal of Public Economics. Review: "Winner of the Kulp-Wright Book Award, American Risk and Insurance Association" "This delightful little book is aimed at advanced undergraduate and first year graduate students who need to learn about modeling risk.

It contains deep and insightful discussions about all the topics under consideration.

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ISBN 13: 9780691122151

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Economic and Financial Decisions under Risk

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