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Implications of risk-sensitive decision-making for the design of economic policies
13 references·0 citing·31 second hop
Implications of risk-sensitive decision-making for the design of economic policies (1986)Implications of risk-sensitive decision-m…Economic policy rules for risk-sensitive decision making (1984)Economic policy rules for ris…The Theory of Commodity Price Stabilization: A Study in the Economics of Risk. (1983)The Theory of Commodity Price…"Expected Utility" Analysis without the Independence Axiom (1982)"Expected Utility" Analysis w…Parametric certainty equivalence procedures in decision-making under uncertainty (1980)Parametric certainty equivale…Lectures on Macroeconomic Planning. (1980)Lectures on Macroeconomic Pla…A Matrix Measure of Multivariate Local Risk Aversion (1977)A Matrix Measure of Multivari…Risk Aversion in the Small and in the Large (1976)Risk Aversion in the Small an…Lectures on Microeconomic Theory. (1973)Lectures on Microeconomic The…Essays in the Theory of Risk-Bearing. (1972)Essays in the Theory of Risk-…Optimum Decision Rules for Government and Industry (1965)Optimum Decision Rules for Go…Optimal Decision Rules for Government and Industry (1965)Optimal Decision Rules for Go…Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small an…The Introduction of Risk into a Programming Model (1956)The Introduction of Risk into…The Utility Analysis of Choices Involving Risk (1948)Alternative Approaches to the Theory of Choice in Risk-Taking Situations (1951)Comparison of Alternative Utility Functions in Portfolio Selection Problems (1983)Expected Utility, Penalty Functions, and Duality in Stochastic Nonlinear Programming (1986)Operations Research Models and the Management of Agricultural and Forestry Resources: A Review and Comparison (2006)Econometric Models and Economic Planning and Policy: Some Trends and Problems (1982)The Nature and Scope of Rational-Choice Explanation (1988)Alternative Keynesian and Post Keynesian Perspective on Uncertainty and Expectations (2001)Moral Hazard and Observability (1979)Prospect theory: An analysis of decision under risk (1988)The New Institutional Economics: Taking Stock, Looking Ahead (2000)An Elementary Political and Economic Theory of the Expenditures of Local Governments (1966)Optimal Foreign Exchange Market Intervention (1978)What Can Economists Learn from Happiness Research? (2001)The Disposition to Sell Winners Too Early and Ride Losers Too Long: Theory and Evidence (1985)Theory of Financial Decision Making. (1988)Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework (1989)Welfare Implications of the Taxation of Savings (1980)The Theory of Technological Competition (1986)An Inquiry into Well-Being and Destitution (1995)The Multi-Period Control Problem Under Uncertainty (1972)Happiness and public choice (2010)The use of happiness research for public policy (2011)Financial Intermediation and Delegated Monitoring (1984)Well-being : the foundations of hedonic psychology (1999)Competitive Storage and Commodity Price Dynamics (1996)Effects of Non‐Farm Employment on Rural Income Inequality in Developing Countries: An Investment Perspective (2000)Overcoming Market Constraints to Pro-Poor Agricultural Growth in Sub-Saharan Africa (2006)On the measurement of inequality (1970)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The arbitrage theory of capital asset pricing (1976)
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References

  • 1964Risk Aversion in the Small and in the Large4,964 cited
  • 1976Risk Aversion in the Small and in the Large4,655 cited
  • 1972Essays in the Theory of Risk-Bearing.3,991 cited
  • 1982"Expected Utility" Analysis without the Independence Axiom1,518 cited
  • 1983The Theory of Commodity Price Stabilization: A Study in the Economics of Risk.632 cited
  • 1956The Introduction of Risk into a Programming Model614 cited
  • 1965Optimal Decision Rules for Government and Industry358 cited
  • 1965Optimum Decision Rules for Government and Industry356 cited
  • 1973Lectures on Microeconomic Theory.339 cited
  • 1980Lectures on Macroeconomic Planning.119 cited
  • 1977A Matrix Measure of Multivariate Local Risk Aversion111 cited
  • 1980Parametric certainty equivalence procedures in decision-making under uncertainty20 cited
  • 1984Economic policy rules for risk-sensitive decision making18 cited

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