Risk Analysis in Theory and Practice by Jean-Paul Chavas
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Risk Analysis in Theory and Practice
By Jean-Paul Chavas

Risk Analysis in Theory and Practice

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Format: Hardback

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Risk Analysis in Theory and Practice by Jean-Paul Chavas

Book Description

The objective of this book is to present this analytical framework and to illustrate how it can be used in the investigation of economic decisions under risk. In a sense, the economics of risk is a difficult subject: it involves understanding human decisions in the absence of perfect information. How do we make decisions when we do not know some of events affecting us? The complexities of our uncertain world and of how humans obtain and process information make this difficult. In spite of these difficulties, much progress has been made. First, probability theory is the corner stone of risk assessment. This allows us to measure risk in a fashion that can be communicated among decision makers or researchers. Second, risk preferences are now better understood. This provides useful insights into the economic rationality of decision making under uncertainty. Third, over the last decades, good insights have been developed about the value of information. This helps better understand the role of information in human decision making and this book provides a systematic treatment of these issues in the context of both private and public decisions under uncertainty. It presents a balanced treatment of conceptual models and applied analysis. It considers both private and public decisions under uncertainty. It includes a Website that presents application exercises in EXCEL.

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Book Details

ISBN: 9780121706210
ISBN-10: 0121706214
Format: Hardback
(229mm x 152mm x 19mm)
Pages: 247
Imprint: Academic Press Inc
Publisher: Elsevier Science Publishing Co Inc
Publish Date: 1-Jul-2004
Country of Publication: United States

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Economics of Food Price Volatility by Jean-Paul Chavas Economics of Food Price Volatility, Hardback (November 2014)

There has been an increase in food price instability in recent years, with varied consequences for farmers, market participants, and consumers. Does financial speculation affect food price volatility? This book address this and other questions.

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Author Biography - Jean-Paul Chavas

By Jean-Paul Chavas

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