@incollection{eeckhoudt_economics_2012,
	address = {Dordrecht},
	title = {The {Economics} of {Risk}: {A} ({Partial}) {Survey}},
	isbn = {978-94-007-1433-5},
	shorttitle = {The {Economics} of {Risk}},
	url = {https://doi.org/10.1007/978-94-007-1433-5_5},
	abstract = {This survey provides a brief overview of the treatment of risk in economics, starting from early principles in the 1940s and 1950s and extending until the most recent developments. It shows how original ideas about economic behavior under conditions of risk and earlier definitions of risk aversion were progressively refined to include prudent behavior in risky situations and precise concepts of risk measurement. The survey is partial because it focuses on the mainstream model of economic behavior under risk. It ignores, among other topics, issues raised by the contractual relationships between imperfectly informed agents in markets for risk transfers, as well as behavioral traits (such as loss aversion) often observed among market participants. Besides, it does not cover models of risk management that have become popular in financial mathematics. Some applications of the economics of risk in the insurance domain are however briefly reviewed.},
	language = {en},
	urldate = {2023-08-31},
	booktitle = {Handbook of {Risk} {Theory}: {Epistemology}, {Decision} {Theory}, {Ethics}, and {Social} {Implications} of {Risk}},
	publisher = {Springer Netherlands},
	author = {Eeckhoudt, Louis and Loubergé, Henri},
	editor = {Roeser, Sabine and Hillerbrand, Rafaela and Sandin, Per and Peterson, Martin},
	year = {2012},
	doi = {10.1007/978-94-007-1433-5_5},
	keywords = {Absolute Risk Aversion, Marginal Utility, Relative Risk Aversion, Risk Aversion, Utility Function},
	pages = {113--133},
}

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