Nottingham University Business School
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Theory of Risk and Insurance

Please note that the following information may be subject to change.

Module Convenor:  Robert Young

Module Content:
This module introduces students to individual risk theory. Decision-making under certainty is covered and the standard theory of subjective expected utility is developed as a special case, along with problems of information asymmetry. Applications to gambling and insurance markets are reviewed. Empirical studies of these theories, based on laboratory or field data, are reviewed.

Module Aims:
To provide a conceptual framework necessary for an understanding of decision-taking under risk and uncertainty, to use this framework to explore issues in markets such as those for gambling and insurance, and to appreciate the related empirical literature.

Module Assessment:
2 Hour Examination (50%); Coursework (2,000 word essay) (50%)

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Nottingham University Business School

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