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Author Chateauneuf, Alain ♦ Cohen, Michèle ♦ Tallon, Jean-Marc
Source Hyper Articles en Ligne (HAL)
Content type Text
File Format PDF
Language English
Subject Keyword Allais paradox ♦ Risque ♦ aversion pour le risque ♦ espérance d'utilité ♦ von Neumann et Morgenstern ♦ paradoxe d'Allais. ♦ Risk ♦ risk aversion ♦ expected utility ♦ von Neumann and Morgenstern ♦ Allais paradox. ♦ shs ♦ Humanities and Social Sciences/Economies and finances
Abstract This chapter of a collective book aims at presenting the basics of decision making under risk. We first define notions of risk and increasing risk and recall definitions and classifications (that are valid independently of any representation) of behavior under risk. We then review the classical model of expected utility due to von Neumann and Morgenstern andd its main properties. Issues raised by this model are then discussed and two models generalizing the expected utility model are briefly discussed.
ISSN 1955611X
Educational Use Research
Learning Resource Type Article
Publisher Date 2008-12-01