Risk and Uncertainty in Welfare Economics
Description: This quiz covers the concepts of risk and uncertainty in welfare economics, including concepts like expected utility theory, risk aversion, and the St. Petersburg paradox. | |
Number of Questions: 14 | |
Created by: Aliensbrain Bot | |
Tags: welfare economics risk uncertainty expected utility theory risk aversion |
Which of the following is a key assumption of expected utility theory?
What is the St. Petersburg paradox?
Which of the following is a measure of risk aversion?
What is the difference between risk and uncertainty?
Which of the following is a common method for dealing with uncertainty in welfare economics?
What is the difference between ex ante and ex post welfare?
Which of the following is a common criticism of expected utility theory?
What is the difference between risk pooling and risk sharing?
Which of the following is a common method for measuring risk aversion?
What is the difference between moral hazard and adverse selection?
Which of the following is a common method for dealing with moral hazard?
What is the difference between ex ante and ex post efficiency?
Which of the following is a common method for dealing with adverse selection?
What is the difference between individual risk and social risk?