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Decision Making Under Risk and Uncertainty
John . Ed(S): Geweke
€ 254.71
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Description for Decision Making Under Risk and Uncertainty
Hardback. A collection of work representative of the theory of decision making under risk and uncertainty. The authors present extensions and alternatives to expected utility theory explaining diverse behaviour, including activity in financial markets, crimes of passion and the Ellsberg paradox. Editor(s): Geweke, John. Series: Theory and Decision Library B. Num Pages: 262 pages, biography. BIC Classification: KJMD. Category: (P) Professional & Vocational; (UP) Postgraduate, Research & Scholarly. Dimension: 235 x 155 x 17. Weight in Grams: 565.
As desired, the infonnation demand correspondence is single valued at equilibrium prices. Hence no planner is needed to assign infonnation allocations to individuals. Proposition 4. For any given infonnation price system p E . P (F *), almost every a E A demands a unique combined infonnation structure (although traders may be indifferent among partial infonnation sales from different information allocations, etc. ). In particular, the aggregate excess demand correspondence for net combined infonnation trades is a continuous function. Proof Uniqueness fails only if an agent can obtain the same expected utility from two or more net combined infonnation allocations. ... Read more
As desired, the infonnation demand correspondence is single valued at equilibrium prices. Hence no planner is needed to assign infonnation allocations to individuals. Proposition 4. For any given infonnation price system p E . P (F *), almost every a E A demands a unique combined infonnation structure (although traders may be indifferent among partial infonnation sales from different information allocations, etc. ). In particular, the aggregate excess demand correspondence for net combined infonnation trades is a continuous function. Proof Uniqueness fails only if an agent can obtain the same expected utility from two or more net combined infonnation allocations. ... Read more
Product Details
Format
Hardback
Publication date
1992
Publisher
Kluwer Academic Publishers United States
Number of pages
262
Condition
New
Series
Theory and Decision Library B
Number of Pages
262
Place of Publication
Dordrecht, Netherlands
ISBN
9780792319047
SKU
V9780792319047
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
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