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Updates and advances the theory of expected utility as applied to risk analysis and financial decision making.

The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of

Written for advanced undergraduate and master’s level courses, this book builds from a base of asymmetric information issues to discuss a wide array of topics

A timeless classic of economic theory that remains fascinating and pertinent today, this is Frank Knight's famous explanation of why perfect competition cannot

Traditionally economists have based their economic predictions on the assumption that humans are super-rational creatures, using the information we are given ef