This volume updates and advances the theory of expected utility as applied to risk analysis and financial decision making. Von Neumann and Morgenstern pioneered the use of expected utility theory in t
Our path of economic development has generated a growing list of environmental problems including the disposal of nuclear waste, exhaustion of natural resources, loss of biodiversity, climate change,
For all of their focus on asset prices, financial economists rarely ask if assets are priced ethically—that is, if their prices are compatible with the public good. Yet in a world facing major, possib
This book updates and advances the theory of expected utility as applied to riskanalysis and financial decision making. Von Neumann and Morgenstern pioneered the use of expectedutility theory in the 1
Governments around the world are deeply divided about the proper role of industrialpolicy, with some politicians arguing for hands-off governance and others supporting governmentintervention to promot
An understanding of risk and how to deal with it is an essential part of modern economics. Whether liability litigation for pharmaceutical firms or an individual's having insufficient wealth to retire
