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utilitarianism to preferences utilitarianism and towards post-welfarist approaches is the following. Utility is defi-ned normatively …
Persistent link: https://www.econbiz.de/10010821180
this theorem to explain the well-known problems of utility and decision theories, such as risk aversion, the underweighting …
Persistent link: https://www.econbiz.de/10010899454
: they consider that utilitarianism deals with 'utility' but disregards justice. Such an interpretation appears when they …
Persistent link: https://www.econbiz.de/10009367989
Drawing on passages in Book II of the Treatise of Human Nature (1739-40), in the Enquiry Concerning the Principles of Morals (1751), in the Dissertation on the Passions (1757), and in some of the Essays (1777), this paper is built upon Hume's distinction between three alternative valuations of...
Persistent link: https://www.econbiz.de/10008790949
During the last decade the air transport market was marked by the emergence and development of the low cost carriers (LCCs). The LCCs market share in Europe was indeed multiplied by 3 in 4 years, going from 5% in 2002 to 16% in 2006. This major change in the air transport market has strongly...
Persistent link: https://www.econbiz.de/10010820457
Expected Shortfall (ES) has been widely accepted as a risk measure that is conceptually superior to Value-at-Risk (VaR). At the same time, however, it has been criticized for issues relating to backtesting. In particular, ES has been found not to be elicitable which means that backtesting for ES...
Persistent link: https://www.econbiz.de/10010821003
Risk diversification is the basis of insurance and investment. It is thus crucial to study the effects that could limit … occurrence, systemic risk can reduce dramatically the diversification benefits. It is clearly revealed via a non …
Persistent link: https://www.econbiz.de/10010899196
des entreprises en termes de diversification et de recentrage. …
Persistent link: https://www.econbiz.de/10011025912
L'objectif de cet article est de repérer les mouvements de recentrage et de diversification des entreprises non …
Persistent link: https://www.econbiz.de/10011026070
This paper presents a characterization of weak risk aversion in terms of preference for sure diversification. Similarly …, we show that strong risk aversion can be characterized by weakening preference for diversification, as introduced by … Dekel [11], in what we name preference for strong diversification. …
Persistent link: https://www.econbiz.de/10010750576