Trustee decisions in investment and finance
When a trustee makes a decision for a client, a standard objective is to decide as the client would if he had the trustee's information. How can this objective be attained when, given the trustee's information, there is still uncertainty about the consequences of alternative courses of act...
| Κύριος συγγραφέας: | |
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| Τύπος μέσου: | Ηλεκτρονική πηγή Άρθρο |
| Γλώσσα: | Αγγλικά |
| Έλεγχος διαθεσιμότητας: | HBZ Gateway |
| Journals Online & Print: | Φόρτωση...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Έκδοση: |
Springer Science + Business Media B. V
1988
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| Στο/Στη: |
Journal of business ethics
Έτος: 1988, Τόμος: 7, Τεύχος: 1, Σελίδες: 73-80 |
| Άλλες λέξεις-κλειδιά: | B
Standard Objective
B Expected Utility B Trustee Decision B Economic Growth B Trustee Supply |
| Διαθέσιμο Online: |
Volltext (lizenzpflichtig) |
| Σύνοψη: | When a trustee makes a decision for a client, a standard objective is to decide as the client would if he had the trustee's information. How can this objective be attained when, given the trustee's information, there is still uncertainty about the consequences of alternative courses of action? A promising approach is to apply the rule to maximize expected utility using the client's utilities for consequences and the trustee's probabilities for states. But taking utilities and probabilities from different sources causes a problem that has to be resolved. Briefly, the problem is that the client's utilities for consequences involve assessments of risks that are uninformed because he does not have informed probabilities. And the resolution of the problem is to reconstruct his utilities for consequences using a component due to risk that the trustee supplies for the client, and a component due to other consequences that the client supplies for himself. |
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| ISSN: | 1573-0697 |
| Περιλαμβάνει: | Enthalten in: Journal of business ethics
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| Persistent identifiers: | DOI: 10.1007/BF00382000 |