Risk: Evaluation, Management and Sharing

PART ONE. Framework of Analysis and Basic Notation. Criteria for Evaluating Lotteries. The Expected Utility Criterion and its Implications. Other Measures of Risk Aversion. The Notion of a Mean-Preserving Change in Risk. A Smorgasbord of Subjects. Uncertainty and Contingent Claims. PART TWO. A General Description of the Problems. Portfolio Choices Under Uncertainty. The Demand for Insurance. The Production Decision Under Uncertainty. PART THREE. General Description of the Problems Treated. Efficient Risk-sharing. The Complete Markets Model. The Capital Asset Pricing Model. Uncertainty and Asymmetric Information.