The standard theory of economic behavior towards risk large risks versus small risks

• Main Authors: Ooi, Ai Yee, Mohd Fahmi Ghazali
• Format: Article
• Language: English; English
• Published: Institute of Interdisciplinary Business Research 2011
• Subjects: HB135-147 Mathematical economics. Quantitative methods Including econometrics, input-output analysis, game theory
• Online Access: https://eprints.ums.edu.my/id/eprint/30979/1/The%20standard%20theory%20of%20economic%20behavior%20towards%20risk%20large%20risks%20versus%20small%20risks.pdf; https://eprints.ums.edu.my/id/eprint/30979/2/The%20standard%20theory%20of%20economic%20behavior%20towards%20risk%20large%20risks%20versus%20small%20risks_ABSTRACT.pdf; https://eprints.ums.edu.my/id/eprint/30979/; https://www.researchgate.net/publication/274385067_The_Standard_Theory_of_Economic_Behavior_towards_Risk_Large_Risks_versus_Small_Risks
• Institution: Universiti Malaysia Sabah

This paper focuses on some of the major theories of economic behavior towards risks and its efficiency in explaining risk attitudes towards large risks and small risks alike. Risk attitude measures the willingness of a decision maker to undertake risks in return for perceived rewards, ranging from r...