Subtitle:

Raport Badawczy = Research Report ; RB/6/2002

Publisher:

Instytut Badań Systemowych. Polska Akademia Nauk ; Systems Research Institute. Polish Academy of Sciences

Place of publishing:

Warszawa

Description:

12 pages ; 21 cm ; Bibliography p. 11

Abstract:

The paper extends the risk management theory based on the two factors utility concept introduced by recent papers. The extension concerns the rate of return for financial as well as the human capital. The simple success – failure model is used for construction of the utility function. The utility function depends on the subjective probability, which is an explicite function of the objective probability of success. It depends also on the fear of risk quelling parameter. Using that function one can show when the utility of an unfair economic gamble or lottery can be accepted or rejected. Such an approach enables one to take into account the behavioral aspects in the decision support problems.

Relation:

Raport Badawczy = Research Report

Detailed Resource Type:

Report

Resource Identifier:

oai:rcin.org.pl:139425

Source:

RB-2002-06

Language:

eng

Language of abstract:

eng

Rights:

Creative Commons Attribution BY 4.0 license

Terms of use:

Copyright-protected material. [CC BY 4.0] May be used within the scope specified in Creative Commons Attribution BY 4.0 license, full text available at: ; -

Digitizing institution:

Systems Research Institute of the Polish Academy of Sciences

Original in:

Library of Systems Research Institute PAS

Projects co-financed by:

Operational Program Digital Poland, 2014-2020, Measure 2.3: Digital accessibility and usefulness of public sector information; funds from the European Regional Development Fund and national co-financing from the state budget.

Access:

Open