-necessarily law-invariant risk measure constraint. Under a consistency requirement on the risk measure that we call Vigilance, we show … property. Vigilance is satisfied by a large class of risk measures, including all distortion risk measures and some classes of … robust risk measures. As an illustration, we consider a problem of optimal insurance design where the premium principle …

necessarily law-invariant risk measure constraint. The objective function is an integral of some function U with respect to some … probability measure P, and the constraint set contains some risk measure constraint which is not necessarily P-law-invariant. This … variable X and of a contingent claim Y on X. Many problems in economic theory and financial theory can be formulated in this …

geotechnical issues and recommended risk mitigation and management measures. The investigation, design, and construction of dams …

choice theory. It draws on formal theories of microeconomics, decision making, games, and social choice, and on ideas … developed in philosophy, psychology, and sociology. Itzhak Gilboa argues that economic theory has provided a set of powerful … rational choice paradigm—the general conceptualization rather than a particular theory—that survive recent (and well …