Pesquisa de referências

Prudence and precautionary effort

Recurso electrónico / Electronic resource
Registro MARC
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1001 ‎$0‎MAPA20100039199‎$a‎Lee, Kangoh
24500‎$a‎Prudence and precautionary effort‎$c‎Kangoh Lee
520  ‎$a‎It is well known that prudence increases precautionary effort in the presence of future uncertain income. This result is intuitive, as prudent individuals take more caution to reduce the probability of accident in response to income uncertainty. However, this known result holds true only in a two-state model with either a loss or no loss occurring. With more than two states of the world, losses of different magnitudes occur, and precautionary effort may not reduce the probabilities of all losses. The effect of income uncertainty on precautionary effort hinges on how it affects the probability distribution of losses, and prudence is neither necessary nor sufficient for more precaution. The analysis establishes an intuitive condition under which prudence increases precaution and another one under which prudence decreases it.
650 4‎$0‎MAPA20080591182‎$a‎Gerencia de riesgos
650 4‎$0‎MAPA20080565992‎$a‎Incertidumbre
650 4‎$0‎MAPA20080558215‎$a‎Estadística
650 4‎$0‎MAPA20080613105‎$a‎Análisis probabilísticos
650 4‎$0‎MAPA20080603038‎$a‎Prevención de riesgos
650 4‎$0‎MAPA20080611613‎$a‎Modelos probabílisticos
7730 ‎$w‎MAP20077000727‎$t‎The Journal of risk and insurance‎$d‎Nueva York : The American Risk and Insurance Association, 1964-‎$x‎0022-4367‎$g‎01/03/2019 Volumen 86 Número 1 - marzo 2019 , p.151-163