040212 Decisions under Uncertainty
 

Date
Topics
03.10.2019
Welcome Week: Science Day
10.10.2019
Topics:
  • Introduction
  • Expected Utility Theory (until slide II.18, p.8))
    • Introductory examples, Bernoulli principle
    • Lotteries and their graphical representation
Link: Bernoulli family
17.10.2019
Topics:
  • Expected Utility Theory
    • Axioms underlying Expected Utility Theory
    • Expected Utility Theorem (until slide II.27, p.11)
24.10.2019
Topics:
  • Expected Utility Theory
    • Some remarks on the expected utility theorem
    • Geometric representation in the state space
    • Demand for insurance (until slide II.44, p.17)
31.10.2019
Topics:
  • Risk aversion (until slide III.23)
Link: Taylor Polynomials
07.11.2019
Topics:
  • Risk aversion
    • Comparisons across wealth levels
    • Examples (until slide III.40)
14.11.2019
Topics:
  • Stochastic Dominance and Risk Comparisons
    • State dominance
    • First order stochastic dominance
    • Increases in risk:
      Mean-preserving spread, second order stochastic dominance (until slide IV.29)
21.11.2019
HS 9
Topics:
  • Stochastic Dominance and Risk Comparisons
    • Mean-preserving spread, second order stochastic dominance: Examples
    • Increases in risk: different criteria
  • Mean-Variance Approach (until slide V.3)
28.11.2019
Topics:
  • Mean-Variance Approach (until slide V.26)
    • Returns of the S&P 500
05.12.2019
Topics:
  • Mean-Variance Approach: Theoretical limitations
  • Empirical Facts (until slide VI.11)
12.12.2019
Topics:
  • Empirical Facts
  • Prospect Theory (until slide VII.19)
19.12.2019
Christmas holidays
26.12.2019
Christmas holidays
02.01.2020
Christmas holidays
09.01.2020
Topics:
  • Prospect Theory (until slide VII.53)
16.01.2020
Topics:
  • Prospect Theory
    • Shortcomings of Prospect Theory
    • Rank dependence and Cumulative Prospect Theory
  • Role of Information in Decision Making under Risk (until slide VIII.7)
23.01.2020
Topics:
  • Role of Information in Decision Making under Risk (until slide VIII.29)
Do not forget to register for the exam!
Registration for the lecture does not include registration for the exam.
Check after registration that your status is "vorgemerkt" / "Pregistered".
The final registration is made after the end of the registration period.
Students registered for a master program of another faculty please contact me if you are not registered after the end of the registration period such that we can register you for the exam.
Bachelor students are not allowed to take the exam.
Students not being registered are not allowed to take the exam.
Thu, 30.01.202
14:00-16:00
HS 6: 1st Examination date
Thu, 27.02.2020
15:00-17:00
HS 1: 2nd Examination date
Wed, 27.05.2019
14:00-16:00
HS 4: 3rd Examination date
Thu, 24.09.2019
15:00-17:00
HS 1: 4th Examination date