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Book synopsis

The third volume of Kenneth Arrow's "Collected Papers concerns the basic concept of rationality as it applies to an economic decision maker. In particular, it addresses the problem of choice faced by consumers in a multicommodity world and presents specific models of choice useful in economic analysis. It also discusses choice models under uncertainty, giving the basic theory and critiques of this theory based on experimental evidence and applications. Among the major papers are "Alternative Approaches to the Theory of Choice in Risk-Taking Situations," a masterly survey of subjective probability and choice theory, and "The Theory of Risk Aversion," an exposition of the theory of choice under uncertainty.

Book details

Book category Knihy po anglicky Economics, finance, business & management Economics Economic theory & philosophy

• Full title: Collected Papers of Kenneth J. Arrow
• Author: Kenneth J. Arrow
• Language: English
• Binding: Hardback
• Number of pages: 284
• EAN: 9780674137622
• ISBN: 9780674137622
• ID: 06464172
• Publisher: Harvard University Press
• Weight: 626 g
• Dimensions: 235 × 156 × 31 mm
• Date of publishing: 01. July 1984

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