6 resultados para Value Of Information
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This paper was presented at the 11th Annual Conference of the European Society for the History of Economic Thought (ESHET).
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[EN] This paper is an outcome of the following dissertation:
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4 p.
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25 p.
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This work presents the basic elements for the analysis of decision under uncertainty: Expected Utility Theory and its citicisms and risk aversion and its measurement. The concepts of certainty equivalent, risk premium, absolute risk aversion and relative risk aversion, and the "more risk averse than" relation are discussed. The work is completed with several applications of decision making under uncertainty to different economic problems: investment in risky assets and portfolio selection, risk sharing, investment to reduce risk, insurance, taxes and income underreporting, deposit insurance and the value of information.