[Forum SIS] Seminario prof. Frosini 19-10-12

[Dip. Scienze Statistiche - Mi]

Il Dipartimento di Scienze Statistiche dell'Università Cattolica del Sacro Cuore ha organizzato un seminario, presentato dal Prof. B. Vittorio FROSINI, dell'Università Cattolica del Sacro Cuore, dal titolo:



Realistic utility versus game utility:

A proposal for dealing with the spread

of uncertain prospects



Venerdì 19 Ottobre dalle ore 12,00

in Aula G 053



Università Cattolica del Sacro Cuore - Milano

Largo Gemelli,1 Edificio Lanzone 18

Abstract:
The author develops the properties and implications of a proposal, concerning a summary statistic of the random prospect of utilities. Following a suggestion of Allais, such a statistic is increasing with expected utility, and decreasing - for most people, who are risk averse - with the mean absolute deviation of utilities; a parameter multiplying this dispersion measure allows for risk averse or risk prone behaviour, according to its sign, and also for more or less departure from a certain prospect. It is demonstrated that this statistic (a) satisfies the first stochastic dominance, (b) satisfies the independence condition, (c) satisfies the so called "problem of probabilistic insurance", (d) resolves the paradoxes of Allais, Ellsberg and Kahneman-Tversky (paradox of the substitution axiom), (e) is compatible with Quiggin's approach of rank-dependent expected utility models, (f) the mean absolute deviation cannot be replaced by the standard deviation.



Si prega di confermare la propria presenza inviando una e-mail a: dip.scienzestatistiche at unicatt.it<mailto:dip.scienzestatistiche at unicatt.it>
Il seminario è gratuito, ma l'iscrizione necessaria ai fini organizzativi.

Grazie
Segreteria Organizzativa:
Barbara Villa
Dipartimento di Scienze statistiche
Università Cattolica del Sacro Cuore
Largo Gemelli, 1
Edificio Via Lanzone, 18
20123 Milano
Tel. 02/72342647
Fax 02/72343064
http://dipartimenti.unicatt.it/scienze_statistiche


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