Financial Decision Making Under Uncertainty
Author: ANDERSON ANDERSON WEBSTER
Publisher: Academic Press
Published: 2014-06-28
Total Pages: 314
ISBN-13: 1483294994
DOWNLOAD EBOOKFinancial Dec Making under Uncertainty
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Handbook of the Fundamentals of Financial Decision Making
Author: Leonard C. MacLean
Publisher: World Scientific
Published: 2013
Total Pages: 941
ISBN-13: 9814417351
DOWNLOAD EBOOKThis handbook in two parts covers key topics of the theory of financial decision making. Some of the papers discuss real applications or case studies as well. There are a number of new papers that have never been published before especially in Part II.Part I is concerned with Decision Making Under Uncertainty. This includes subsections on Arbitrage, Utility Theory, Risk Aversion and Static Portfolio Theory, and Stochastic Dominance. Part II is concerned with Dynamic Modeling that is the transition for static decision making to multiperiod decision making. The analysis starts with Risk Measures and then discusses Dynamic Portfolio Theory, Tactical Asset Allocation and Asset-Liability Management Using Utility and Goal Based Consumption-Investment Decision Models.A comprehensive set of problems both computational and review and mind expanding with many unsolved problems are in an accompanying problems book. The handbook plus the book of problems form a very strong set of materials for PhD and Masters courses both as the main or as supplementary text in finance theory, financial decision making and portfolio theory. For researchers, it is a valuable resource being an up to date treatment of topics in the classic books on these topics by Johnathan Ingersoll in 1988, and William Ziemba and Raymond Vickson in 1975 (updated 2 nd edition published in 2006).
˜Aœ new tool in financial decision-making under uncertainty
Author: J. L. Collins
Publisher:
Published: 1993
Total Pages:
ISBN-13:
DOWNLOAD EBOOKInvestment under Uncertainty
Author: Robert K. Dixit
Publisher: Princeton University Press
Published: 2012-07-14
Total Pages: 484
ISBN-13: 1400830176
DOWNLOAD EBOOKHow should firms decide whether and when to invest in new capital equipment, additions to their workforce, or the development of new products? Why have traditional economic models of investment failed to explain the behavior of investment spending in the United States and other countries? In this book, Avinash Dixit and Robert Pindyck provide the first detailed exposition of a new theoretical approach to the capital investment decisions of firms, stressing the irreversibility of most investment decisions, and the ongoing uncertainty of the economic environment in which these decisions are made. In so doing, they answer important questions about investment decisions and the behavior of investment spending. This new approach to investment recognizes the option value of waiting for better (but never complete) information. It exploits an analogy with the theory of options in financial markets, which permits a much richer dynamic framework than was possible with the traditional theory of investment. The authors present the new theory in a clear and systematic way, and consolidate, synthesize, and extend the various strands of research that have come out of the theory. Their book shows the importance of the theory for understanding investment behavior of firms; develops the implications of this theory for industry dynamics and for government policy concerning investment; and shows how the theory can be applied to specific industries and to a wide variety of business problems.
Theory of Decision Under Uncertainty
Author: Itzhak Gilboa
Publisher: Cambridge University Press
Published: 2009-03-16
Total Pages: 216
ISBN-13: 052151732X
DOWNLOAD EBOOKThis book describes the classical axiomatic theories of decision under uncertainty, as well as critiques thereof and alternative theories. It focuses on the meaning of probability, discussing some definitions and surveying their scope of applicability. The behavioral definition of subjective probability serves as a way to present the classical theories, culminating in Savage's theorem. The limitations of this result as a definition of probability lead to two directions - first, similar behavioral definitions of more general theories, such as non-additive probabilities and multiple priors, and second, cognitive derivations based on case-based techniques.
Guidebook for Supporting Decision Making Under Uncertainties
Author: Ettore Piccirillo
Publisher: World Scientific
Published: 2008
Total Pages: 159
ISBN-13: 9812708030
DOWNLOAD EBOOKThe Inside Ring is the first novel in Mike Lawson’s critically acclaimed series of political thriller starring Joe DeMarco, fixer for the Speaker of the House. It opens with an assassination attempt on the president. He is only wounded, but his best friend and a Secret Service Agent are killed. It turns out that the attack wasn't without warning. General Andrew Banks, the Secretary of Homeland Security, received a note that the president was in danger, and even more alarming, that Secret Service agents guarding the president had been compromised. General Banks is reluctant to tell the FBI about the note, partly for self-serving political reasons, and partly because he doesn’t want to damage the Secret Service’s reputation based on something that might very well be a hoax. So he requests help from his friend, Speaker Mahoney, and Mahoney assigns his man DeMarco to determine if the Secret Service was really involved. Moving at a breakneck pace, and packed with plenty of humor and suspense, The Inside Ring is a must-read for fans of political thrillers.
Principles of Risk Analysis
Author: Charles Yoe
Publisher: CRC Press
Published: 2016-04-19
Total Pages: 576
ISBN-13: 1439857504
DOWNLOAD EBOOKIn every decision context there are things we know and things we do not know. Risk analysis uses science and the best available evidence to assess what we know-and it is intentional in the way it addresses the importance of the things we don't know. Principles of Risk Analysis: Decision Making Under Uncertainty lays out the tasks of risk analysis i
Stochastic Dominance
Author: Haim Levy
Publisher: Springer Science & Business Media
Published: 2006-08-25
Total Pages: 439
ISBN-13: 0387293116
DOWNLOAD EBOOKThis book is devoted to investment decision-making under uncertainty. The book covers three basic approaches to this process: the stochastic dominance approach; the mean-variance approach; and the non-expected utility approach, focusing on prospect theory and its modified version, cumulative prospect theory. Each approach is discussed and compared. In addition, this volume examines cases in which stochastic dominance rules coincide with the mean-variance rule and considers how contradictions between these two approaches may occur.
Managing Risk and Uncertainty
Author: Richard Friberg
Publisher: MIT Press
Published: 2015-11-13
Total Pages: 395
ISBN-13: 0262528193
DOWNLOAD EBOOKA comprehensive framework for assessing strategies for managing risk and uncertainty, integrating theory and practice and synthesizing insights from many fields. This book offers a framework for making decisions under risk and uncertainty. Synthesizing research from economics, finance, decision theory, management, and other fields, the book provides a set of tools and a way of thinking that determines the relative merits of different strategies. It takes as its premise that we make better decisions if we use the whole toolkit of economics and related fields to inform our decision making. The text explores the distinction between risk and uncertainty and covers standard models of decision making under risk as well as more recent work on decision making under uncertainty, with a particular focus on strategic interaction. It also examines the implications of incomplete markets for managing under uncertainty. It presents four core strategies: a benchmark strategy (proceeding as if risk and uncertainty were low), a financial hedging strategy (valuable if there is much risk), an operational hedging strategy (valuable for conditions of much uncertainty), and a flexible strategy (valuable if there is much risk and/or uncertainty). The book then examines various aspects of these strategies in greater depth, building on empirical work in several different fields. Topics include price-setting, real options and Monte Carlo techniques, organizational structure, and behavioral biases. Many chapters include exercises and appendixes with additional material. The book can be used in graduate or advanced undergraduate courses in risk management, as a guide for researchers, or as a reference for management practitioners.
Decision Making Under Uncertainty in Electricity Markets
Author: Antonio J. Conejo
Publisher: Springer Science & Business Media
Published: 2010-09-08
Total Pages: 549
ISBN-13: 1441974210
DOWNLOAD EBOOKDecision Making Under Uncertainty in Electricity Markets provides models and procedures to be used by electricity market agents to make informed decisions under uncertainty. These procedures rely on well established stochastic programming models, which make them efficient and robust. Particularly, these techniques allow electricity producers to derive offering strategies for the pool and contracting decisions in the futures market. Retailers use these techniques to derive selling prices to clients and energy procurement strategies through the pool, the futures market and bilateral contracting. Using the proposed models, consumers can derive the best energy procurement strategies using the available trading floors. The market operator can use the techniques proposed in this book to clear simultaneously energy and reserve markets promoting efficiency and equity. The techniques described in this book are of interest for professionals working on energy markets, and for graduate students in power engineering, applied mathematics, applied economics, and operations research.
