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Risk as a primitive: A survey of measures of perceived risk

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  • Brachinger, H. Seminar für Statistik/Séminaire de Statistique, University of Fribourg, Avenue de Beauregard 13, CH-1700, Fribourg, Switzerland
  • Weber, M. Lehrstuhl für Allgemeine BWL, Finanzwirtschaft, insbesondere Bankbetriebslehre, University of Mannheim, D-68131, Mannheim, Germany
    1997
Published in:
  • Operations-Research-Spektrum. - Springer-Verlag. - 1997, vol. 19, no. 4, p. 235-250
English The concept of risk is essential to many problems in economics and business. Usually, risk is treated in the traditional expected utility framework where it is defined only indirectly through the shape of the utility function. The purpose of utility functions, however, is to model preferences. In this paper, we review those approaches which directly model risk judgements. After a short review of naive risk measures used in earlier economic literature, we present recent theoretical and empirical developments
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Language
  • English
Classification
Computer science and technology
License
License undefined
Springer-Verlag, 1997
Identifiers
  • RERO DOC 319481
  • SWISSBIB (NATIONALLICENCE)springer-10.1007/BF01539781
  • DOI 10.1007/BF01539781
Persistent URL
https://sonar.ch/global/documents/306855
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