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From preferences on resolution time in risky bets to the modeling of complex financialized markets

From preferences on resolution time in risky bets to the modeling of complex financialized markets Risk and Decision Analysis 2 (2010/2011) 1–3 DOI 10.3233/RDA-2010-0021 IOS Press From preferences on resolution time in risky bets to the modeling of complex financialized markets This issue of Risk and Decision Analysis is devoted to innovations in modeling decisions under risk or in designing models for the class of markets described as “financialized”. made clear that they had no intention to deal with such issues. Rather, their seminal work was intended to deal with the issue to value risky assets of individuals, so that, for example, individuals would know how to trade risky against non-risky assets considered in games outcomes. Only such knowledge would allow dealing with the issue of side-payments in games. Their problem had no link whatsoever with time – their model being static – neither with any kind of preference on time directly nor with preference on the pleasure of gambling or impatience to know, etc. However, as has been argued by Drèze and Modigliani [1], Mossin [5], Spence and Zeckhauser [7], to quote only the seminal contributions, these issues cannot, in many practical situations, be considered separately from the preferences on outcome. The problem is then to derive actual preferences from ‘expected utility http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Risk and Decision Analysis IOS Press

From preferences on resolution time in risky bets to the modeling of complex financialized markets

Risk and Decision Analysis , Volume 2 (1) – Jan 1, 2010

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References (8)

Publisher
IOS Press
Copyright
Copyright © 2010 by IOS Press, Inc
ISSN
1569-7371
eISSN
1875-9173
DOI
10.3233/RDA-2010-0021
Publisher site
See Article on Publisher Site

Abstract

Risk and Decision Analysis 2 (2010/2011) 1–3 DOI 10.3233/RDA-2010-0021 IOS Press From preferences on resolution time in risky bets to the modeling of complex financialized markets This issue of Risk and Decision Analysis is devoted to innovations in modeling decisions under risk or in designing models for the class of markets described as “financialized”. made clear that they had no intention to deal with such issues. Rather, their seminal work was intended to deal with the issue to value risky assets of individuals, so that, for example, individuals would know how to trade risky against non-risky assets considered in games outcomes. Only such knowledge would allow dealing with the issue of side-payments in games. Their problem had no link whatsoever with time – their model being static – neither with any kind of preference on time directly nor with preference on the pleasure of gambling or impatience to know, etc. However, as has been argued by Drèze and Modigliani [1], Mossin [5], Spence and Zeckhauser [7], to quote only the seminal contributions, these issues cannot, in many practical situations, be considered separately from the preferences on outcome. The problem is then to derive actual preferences from ‘expected utility

Journal

Risk and Decision AnalysisIOS Press

Published: Jan 1, 2010

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