Chapter 20
Uncertainty
Incertezza e valore atteso
People face uncertain situations. Uncertainty arises in situations where future outcomes are unknown and influenced by chance or external factors. A ...
Diminuzione dell'utilità marginale del reddito
Utility reflects the satisfaction individuals gain from consuming goods and services. As income rises, people can afford more goods and services, ...
Reddito atteso, utilità attesa e avversione al rischio I
Consider a hypothetical example where John is evaluating a job offer from a company. If the company performs well, John will earn an annual income ...
Reddito atteso, utilità attesa e avversione al rischio II
John is evaluating a job offer from a company where his income will be uncertain. If the company performs well, John will earn an annual income of ...
Assicurazioni e diversificazione
Mitigating financial risk is crucial, and two key strategies for doing so are insurance and diversification. Insurance helps individuals and businesses ...
Neutrale rispetto al rischio e amante del rischio
Individuals make decisions based on their preferences toward risk. A risk-neutral person has constant marginal utility of income. This means that each ...
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