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Axiomatic Utility Theory under Risk : Non-Archi. Schmidt<| - Picture 1 of 1

Axiomatic Utility Theory under Risk: Non-Archimedean Representations and Application to Insurance Economics by Ulrich Schmidt (Paperback, 1998)

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Author: Ulrich Schmidt ISBN 10: 3540643192. Used-Very Good: The book will be clean without any major stains or markings, the spine will be in excellent shape with only minor creasing, no pages will be missing and the cover is likely to be very clean.

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The book consists of three parts: The first part reviews the development in axiomatic utility theory under risk since the axiomatization of expected utility by von Neumann and Morgenstein. The second part explores some approaches to represent preferences which exhibit boundary effects. The third part shows that many results of insurance economics derived in the expected utility framework do not remain valid with non-expected utility theory.