KaydedilenlerDerginizi ekleyin

Dergiler / Stratejik ve Sosyal Araştırmalar Dergisi / 2019 / Cilt: 3 - Sayı: 3

THE RELATIONSHIP BETWEEN UTILITY AND RISK: EXAMPLES FROM ECONOMICS

Gelengül KOÇASLAN
Sayfa
491–500
Yayın Tarihi
2019-11-24
DOI
—
🏛️Bu makalenin bibliyografik verileri ve tam metin bağlantısı DergiPark üzerinden sağlanmıştır.
DergiPark Kaydı ↗
✨

Yapay Zeka Hızlı Bakış & Çıkarımlar

AI Insight
⚡ TL;DR(1 Cümlede Hızlı Çıkarım)

It aims to explain that utility consideration differentiates according to the parameters of the situation rather than to the mathematical expected value calculation referring to the St.

📌 3 Maddede Bu Makale

🎯
Amaç & Hipotez:When the issues in economics are analyzed deeply, the notion of utility is seen at the heart.
📊
Temel Bulgular & Veri:As an important concept utility research has stayed popular so far.
💡
Sonuç & Katkı:It aims to explain that utility consideration differentiates according to the parameters of the situation rather than to the mathematical expected value calculation referring to the St.
🔬Tür:Araştırma Makalesi
📍Kapsam:Genişletilmiş Akademik Örneklem
⚙️Değişkenler:Utility · Risk · St. Petersburg Paradox

Özet

When the issues in economics are analyzed deeply, the notion of utility is seen at the heart. As an important concept utility research has stayed popular so far. There are several research examining utility from different perspectives. One of the important topics that utility is associated with is risk preferences. Utility perception deviates from what economic theory predicts when it comes to make a choice among alternatives involving risk. Besides utility perception and risk preferences variate if the alternative is a monetary gain or a monetary loss violating principal rules on utility maximization. This study presents a detailed outlook of the concept of utility within the context of attitudes towards risk. It aims to explain that utility consideration differentiates according to the parameters of the situation rather than to the mathematical expected value calculation referring to the St. Petersburg Paradox.

🔖

Bu Makaleye Atıf Yap

KOÇASLAN, G. (2019). THE RELATIONSHIP BETWEEN UTILITY AND RISK: EXAMPLES FROM ECONOMICS. Stratejik ve Sosyal Araştırmalar Dergisi, Cilt: 3 - Sayı: 3, 491–500. https://ajindex.com/articles/802743

📄 Tam Metin PDF Okuyucu

📄

PDF görüntüleyici hazırlanıyor...

Kaynakça (1)

  1. Abdellaoui, M. (2002). Economic Rationality Under Uncertainty. Paris: GRID-CNRS, ENS de Cachan.Akyıldırım, E. and Soner, M. H. (2014). A Brief History Of Mathematics In Finance. Borsa Istanbul Review, 14, 57-63.Allais, M. (1953). Le Comportement de l’Homme Rationnel devant le Risque, Crtitique des Postulats et Axiomes de l’Ecole Americaine. Econometrica, 21(4), 503-546.Allen, R. G. D. and Hicks, J. R. (1934). A Reconsideration Of The Theory Of Value, II. Economica, 1, 196-219.Andreas, J. T. (2010). The Cardinalist Manifesto: The Epistemology Of The Measurability Of Utility. Ph.D. Dissertation, the Graduate College of the University of Illinois, Chicago.Arrow, K. J. (1971). Essays In The Theory Of Risk Bearing. Amsterdam:North Holland, Arrow, K. J. (1951). Alternative Approaches To The Theory Of Choice In Risk- Taking Situations. Econometrica, 19, 404-37.Bassett, G.W. Jr. (1987). The St. Petersburg Paradox And Bounded Utility. History of Political Economy, 19(4), 517-523.Bernoulli, D. (1954). Exposition Of A New Theory On The Measurement Of Risk. Econometrica, 22 (1), 23 - 36. (Specimen Theoriae Novae de Mensura Sortis. Commentarii Academiae Sceintiarum Imperialis Petropolitanae, Tomus V, 1738, pp. 175 - 192 is translated by Louise Sommer and footnotes by Karl Menger editor-translator.)Birnbaum, M. H. and Schmidt, U. (2008). An Experimental Investigation Of Violations Of Transitivity In Choice Under Uncertainty. Kiel Working Paper No. 1396.Board, S. (2009). Preferences And Utility. Resource document. UCLA. http://www.econ.ucla.edu/sboard/teaching/econ11_09/econ11_09_lecture2.pdf, 04. 06. 2019.Boltzmann, L. (1871). Einige Allgemeine Sa¨tze u¨ber W¨armegleichgewicht. Wiener Berichte, 63, 679–711.Britannica. https://www.britannica.com/topic/The-Book-on-Games-of-Chance, 04. 06.2019.Buffon, G. L. L. Comte de. ( 1777). ESSAIS D’Arithm´Etique Morale. In: Histoire Naturelle. Suppl´ement Tome Quatri´eme. Paris: De l’Imprimerie Royale, 46 - 124.Camerer, C. F. (2007). Neuroeconomics:Using Neuroscience To Make Economic Predictions. The Economic Journal, 117, 26-42.Carlin, P. S. (1992). Violations of The Reduction And Independence Axioms In Allais-Type And Common-Ratio Effect Experiments. Journal of Economic Behavior & Organization, 19(2), 213-235.Cohen, E. G. D. (1996). Boltzmann And Statistical Mechanics. Boltzmann’s Legacy 150 Years After His Birth. Atti dei Convegni Lincei, Accademia Nazionale dei Lincei, 131, 9–23.Cramer, G. (1728). Private Correspondence With N. B