Economics of Risk »

Meyer (Western Michigan U.) presents six papers directly and indirectly looking at issues of risk in economics. The first paper offers an introduction to the practice of risk management overall. Next is a chapter surveying the theoretical research into risk over the past few decades. The remaining contributions look at the operation of risk in four risky markets: gambling enterprises, agriculture, auctions, and health insurance. Annotation ©2004 Book News, Inc., Portland, OR

1 - Introduction, by Donald J. Meyer

2 -Risk and Risk Management, by Keith J. Crocker

3 - States of the World and the State of Decision Theory, by Mark J. Machina,

4 - Gambling with the Future, by William R. Eadington

5 - Common Value Auctions and the Winner's Curse, by John H. Kagel

6 - Sharing Very High Risks, by Katherine Swartz

7 - Risk and Agriculture, by Rulon D. Pope