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Risk Management: An Interdisciplinary Framework

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    Risk is shown to be based on both theory and practice. It is shown to be conceptual and technical, blending behavioral psychology, financial economics and decision making under uncertainty into a coherent whole that justify the selection of risky choices. Its applications are also broadly distributed across many areas and fields of interest. The examples treated here have focused on both finance, insurance and on a few problems in industrial management however

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    File URL: http://www.essec.fr/faculty/showDeclFileRes.do?declId=1012&key=__workpaper__
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    Paper provided by ESSEC Research Center, ESSEC Business School in its series ESSEC Working Papers with number DR 03014.

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    Length: 40 pages
    Date of creation: Nov 2003
    Date of revision:
    Handle: RePEc:ebg:essewp:dr-03014
    Contact details of provider: Postal: ESSEC Research Center, BP 105, 95021 Cergy, France
    Web page: http://www.essec.edu/
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    5. Suleyman Basak & Alexander Shapiro, 1999. "Value-at-Risk Based Risk Management: Optimal Policies and Asset Prices," New York University, Leonard N. Stern School Finance Department Working Paper Seires 99-032, New York University, Leonard N. Stern School of Business-.
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    7. Rommert Dekker & Ralph Wildeman & Frank Duyn Schouten, 1997. "A review of multi-component maintenance models with economic dependence," Mathematical Methods of Operations Research, Springer, vol. 45(3), pages 411-435, October.
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    9. Spence, A Michael, 1977. "Consumer Misperceptions, Product Failure and Producer Liability," Review of Economic Studies, Wiley Blackwell, vol. 44(3), pages 561-72, October.
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    11. repec:spr:compst:v:45:y:1997:i:3:p:411-435 is not listed on IDEAS
    12. Amos Tversky & Daniel Kahneman, 1979. "Prospect Theory: An Analysis of Decision under Risk," Levine's Working Paper Archive 7656, David K. Levine.
    13. Reyniers, Diane J. & Tapiero, Charles S., 1995. "Contract design and the control of quality in a conflictual environment," European Journal of Operational Research, Elsevier, vol. 82(2), pages 373-382, April.
    14. Kreps, David M, 1979. "A Representation Theorem for "Preference for Flexibility"," Econometrica, Econometric Society, vol. 47(3), pages 565-77, May.
    15. Milton Friedman & L. J. Savage, 1948. "The Utility Analysis of Choices Involving Risk," Journal of Political Economy, University of Chicago Press, vol. 56, pages 279.
    16. Bismut, Jean-Michel, 1975. "Growth and optimal intertemporal allocation of risks," Journal of Economic Theory, Elsevier, vol. 10(2), pages 239-257, April.
    17. Nelson, Philip, 1974. "Advertising as Information," Journal of Political Economy, University of Chicago Press, vol. 82(4), pages 729-54, July/Aug..
    18. Charles S. Tapiero, 1982. "A Stochastic Model of Consumer Behavior and Optimal Advertising," Management Science, INFORMS, vol. 28(9), pages 1054-1064, September.
    19. Black, Fischer & Scholes, Myron S, 1973. "The Pricing of Options and Corporate Liabilities," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 637-54, May-June.
    20. Jia, Jianmin & Dyer, James S & Butler, John C, 2001. " Generalized Disappointment Models," Journal of Risk and Uncertainty, Springer, vol. 22(1), pages 59-78, January.
    21. Akerlof, George A, 1970. "The Market for 'Lemons': Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, MIT Press, vol. 84(3), pages 488-500, August.
    22. Diane J. Reyniers & Charles S. Tapiero, 1995. "The Delivery and Control of Quality in Supplier-Producer Contracts," Management Science, INFORMS, vol. 41(10), pages 1581-1589, October.
    23. Nelson, Phillip, 1970. "Information and Consumer Behavior," Journal of Political Economy, University of Chicago Press, vol. 78(2), pages 311-29, March-Apr.
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