Media Summary: This video provides a basic explanation of how to calculate a consumer's In this episode I describe two important notions; Certainty equivalence and This video shows a basic economics problem involving insurance, introducing the von Neumann-Morgenstern
Expected Utility 1 Risk Aversion - Detailed Analysis & Overview
This video provides a basic explanation of how to calculate a consumer's In this episode I describe two important notions; Certainty equivalence and This video shows a basic economics problem involving insurance, introducing the von Neumann-Morgenstern This video covers thinking about events in probabalistic terms and the calculation of the expected value and