Summary of MgS 8160, Risk Benefit Analysis

Decisions with no information about probability
Decisions with full information about probability
Decisions using (disciplined) subjective probability
Using evidence to update probabilities
Value (and quantity) of information (use & exchange)
Decisions with vague information about probability
Introduction to Real Opetions Theory

Risk aversion & declining marginal utility
Effects of risk aversion
Buying price and selling price
Accounting for risk aversion

Strictly competitive games
Randomized strategies
Nonzero Sum Games
     Prisoners' dilemma, Tragedy of the Commons, Chicken
Coalition & negotiation

Social Choice
Paradoxes of democracy (Arrow)