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Incertidumbre: enfoque media - varianza, dominancia estocástica, manejo de riesgos y riesgo no soportable
[Uncertainty: approach media - variance, stochastic dominance, risk management and risk unsupportable]

Author

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  • Ávalos, Eloy

Abstract

This paper will develop the half variance approach,identifying the expected utility functions that can be expressed in terms of the expected value and standard deviation. We study the stochastic dominance to determine the conditions required by the ordering of lotteries when they are probability distribution functions. Then we will see the choice of goods and contingent assets. Finally, we discuss the model of Hicks and lexicographic ordering for measurable risks but supportable.

Suggested Citation

  • Ávalos, Eloy, 2011. "Incertidumbre: enfoque media - varianza, dominancia estocástica, manejo de riesgos y riesgo no soportable [Uncertainty: approach media - variance, stochastic dominance, risk management and risk uns," MPRA Paper 42342, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:42342
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    File URL: https://mpra.ub.uni-muenchen.de/42342/1/MPRA_paper_42342.pdf
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    References listed on IDEAS

    as
    1. Adolfo Figueroa, 2003. "La sociedad sigma: una teoría del desarrollo económico," Libros PUCP / PUCP Books, Fondo Editorial - Pontificia Universidad Católica del Perú, edition 1, number lde-2003-04.
    2. Adolfo Figueroa, 1993. "Crisis distributiva en el Perú," Libros PUCP / PUCP Books, Fondo Editorial - Pontificia Universidad Católica del Perú, edition 1, number lde-1993-03.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Probabilidades; dominancia estocástica; media; varianza; activos contingentes; riesgo no soportable;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D80 - Microeconomics - - Information, Knowledge, and Uncertainty - - - General

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