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
Edi Karni
26
posterior preference relations. An observation, x, is essential if
(
a, b
)
x
a
, b
, for some
(
a, b
)
,
a
, b
A × B
. Assume that all elements of
¯
X
are essential.
For every
a A
and
x
¯
X
, define a binary relation
x
a
on B as follows: for all
b
, b
B, b
x
a
b
if and only if
(
a, b
)
x
a, b
. An effect, θ, is said to be nonnull given
the observation–action pair
(
x, a
)
if
(
b
θ
r)
x
a
b
θ
r
, for some
b B
and
r, r
R
; other-
wise, it is null given the observation–action pair
(
x, a
)
. Let Θ(a,x) denote the set of nonnull
effects given (x,a).
1.4.2 Preferences on Strategies and their Representation
Suppose that
on
I
is a continuous w ...
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