Borch The Economics of Uncertainty. (PSME-2), Volume 2

Erscheinungsjahr 2016
ISBN: 978-1-4008-7476-7
Verlag: De Gruyter
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 236 Seiten

Reihe: Princeton Studies in Mathematical Economics

Game theory has brought into economics an uncertainty principle similar to the one brought into physics by the quantum theory. Professor Barch's main purpose in this book is to show how one can construct realistic economic theories by taking uncertainty into account instead of dismissing it. He brings together a number of recent developments in different fields of economics and other social sciences in which uncertainty and chance play a central role and shows that they really constitute an entity. These developments include the revisions of utility, the introduction of game theory as a basic tool, and the view of the foundations of probability theory adopted by modern Bayesian statisticians.

Originally published in 1968.

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Autoren/Hrsg.

Borch, Karl Hendrik

Fachgebiete

• Wirtschaftswissenschaften Volkswirtschaftslehre Volkswirtschaftslehre Allgemein

Inhaltsverzeichnis

Frontmatter, pg. i
Preface, pg. v
Contents, pg. vii
Chapter I. The Economics of Uncertainty, pg. 1
Chapter II. Economic Decisions under Uncertainty, pg. 11
Chapter III. The Bernoulli Principle, pg. 23
Chapter IV. Applications of the Bernoulli Principle Some Illustrations, pg. 34
Chapter V. Portfolio Selection, pg. 47
Chapter VI. The Bernoulli Principle— Observations and Experiments, pg. 62
Chapter VII. Decisions with Unknown Probabilities, pg. 77
Chapter VIII. Market Equilibrium under Uncertainty, pg. 88
Chapter IX. The Two-person Zero-sum Game, pg. 109
Chapter X. The General Two-person Game, pg. 129
Chapter XI. Elements of the General Game Theory, pg. 150
Chapter XII. The Objectives of the Firm, pg. 166
Chapter XIII. Survival and the Objectives of the Firm, pg. 181
Chapter XIV. Credibility and Subjective Probabilities, pg. 202
Chapter XV. Group Decisions, pg. 214
Index, pg. 225