Risk attitude & Economics
First issue of Les Regards, by Laura Concina
- Laura Concina
- Issue
- 2014-01
- Number of pages
- 40 pages
- Interest
- L'Arbitrage
Available formats
Abstract
This document is an introduction, for non-economists, to standard and behavioral economic theories of risk and uncertainty. It describes some broadly-accepted results in economics that are determinant in decision-making under risk or uncertainty and in situations where we have to deal with losses and gains.
To illustrate this point, the document presents a selection of theoretical results, ponctuated with examples taken from everyday life, and research studies in economics and psychology on the perception of risk.