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Chapter 14
Uncertainty and theEmergence of Insurance
Copyright © 2001 Addison Wesley Longman
Slide 14- 2
Figure 14.1 Discrete Probability Distribution
Copyright © 2001 Addison Wesley Longman
Slide 14- 3
Figure 14.2 Continuous Probability Distributions
Copyright © 2001 Addison Wesley Longman
Slide 14- 4
Figure 14.3(a) Two Investments in Wheat Production
Copyright © 2001 Addison Wesley Longman
Slide 14- 5
Figure 14.3(b) Two Investments in Wheat Production
Copyright © 2001 Addison Wesley Longman
Slide 14- 6
Figure 14.4 Risk Neutrality
Copyright © 2001 Addison Wesley Longman
Slide 14- 7
Figure 14.5 Risk Aversion
Copyright © 2001 Addison Wesley Longman
Slide 14- 8
Figure 14.6 Risk Preference
Copyright © 2001 Addison Wesley Longman
Slide 14- 9
Figure 14.7 Risk Aversion and Insurance
Copyright © 2001 Addison Wesley Longman
Slide 14- 10
Figure 14.8 Risk Preference and Insurance
Copyright © 2001 Addison Wesley Longman
Slide 14- 11
Figure 14.9(a) Risk-Averse Geoffreys and Risk-Preferring Elizabeths
Copyright © 2001 Addison Wesley Longman
Slide 14- 12
Figure 14.9(b) Risk-Averse Geoffreys and Risk-Preferring Elizabeths
Copyright © 2001 Addison Wesley Longman
Slide 14- 13
Figure 14.10 Willingness to Sell Insurance
Copyright © 2001 Addison Wesley Longman
Slide 14- 14
Figure 14.11(a) Risk and Variance
Copyright © 2001 Addison Wesley Longman
Slide 14- 15
Figure 14.11(b) Risk and Variance
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