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<P>The Economics of Risk </P>
<p>
<P>Risk surrounds us and affects us daily. It is an inescapable part ofour lives. While economists generally assume that most people are riskaverse</P>
<P> (i.e., they attempt to reduce risk through activities such aspurchasing insurance, diversifying portfolios, and eating oatmealdaily), </P>
<P>it is clear that others are attracted to risky behaviors suchas gambling and skydiving. Because risk is such an integral part of ourlives and because </P>
<P>it is viewed differently by different people, itsstudy has burgeoned in recent years as scholars seek ways to understandand manage it both </P>
<P>at the individual level and in the markets in whichit exists.<BR>This collection offers an economics-based overview of the variousfacets of risk. </P>
<P>It contains six papers that examine a broad array ofresearch relating to risk. Two papers examine risk management and itsapplication to</P>
<P> decision making as well as what researchers have learnedover the past few decades in their theoretical investigations of risk.</P>
<P>The remaining chapters examine how risk plays out in the particularmarkets in which it has a significant presence, </P>
<P>including casinogambling enterprises, agricultural markets, auctions, and healthinsurance</P>
<P>Book Info:<BR>Published in 2003<BR>Author Donald J. Meyer<BR>ISBN 0880992689</P>
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