search query: @indexterm value theory / total: 82
reference: 9 / 82
| Author: | Arrhenius, G. Rabinowicz, W. |
| Title: | Value and unacceptable risk |
| Journal: | Economics and philosophy
2005 : OCT, VOL. 21:2, p. 177-197 |
| Index terms: | risk risk analysis value theory |
| Language: | eng |
| Abstract: | This paper discusses value and uunacceptable risk by considering a travsitive value ordering of outcomes and lotteries on outcomes, which satisfies substitutivity of equivalents and obeys "continuity for easy cases", i.e., allows compensating risks of small losses by chances of small improvements. Temkin (2001) argues that such an ordering must also - rather counter-intuitively - allow chances of small improvements to compensate risks of huge losses. The objective of this paper is to show that's Temkin's claim is faulty. |
SCIMA