Skip to Main Content
Handbook of the Economics of Risk and Uncertainty
book

Handbook of the Economics of Risk and Uncertainty

by Mark Machina, W. Kip Viscusi
November 2013
Beginner content levelBeginner
896 pages
35h 10m
English
North Holland
Content preview from Handbook of the Economics of Risk and Uncertainty
W. Kip Viscusi
408
Other recent attempts to analyze dependence of utility functions on health states
have utilized different empirical approaches than eliciting multiple risk-money combi-
nations on a constant expected utility locus. Lillard and Weiss (1997) explore consump-
tion profiles over time and find that the marginal utility of consumption in the healthy
state exceeded that when ill. Such a result could occur either if sickness is equivalent to
a loss of income or if the monetary costs of sickness are not borne by insurance, as they
are in the workers’ compensation case. Sojourner (2010) utilized statistical bounding
techniques to explore ...
Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

Handbook of the Economics of Finance

Handbook of the Economics of Finance

George M. Constantinides, Milton Harris, Rene M. Stulz
Quantitative Financial Risk Management: Theory and Practice

Quantitative Financial Risk Management: Theory and Practice

Constantin Zopounidis, Emilios Galariotis
Mathematical Methods for Finance: Tools for Asset and Risk Management

Mathematical Methods for Finance: Tools for Asset and Risk Management

Sergio M. Focardi, CFA Frank J. Fabozzi, Turan G. Bali

Publisher Resources

ISBN: 9780444536853