Beyond Earthquakes: The New Directions of Expected Utility Theory

Over the past two decades or so, an enormous amount of work has been done to improve the Expected Utility model. Two areas have attracted major attention: the possibility of describing unforeseen contingencies and the need to accommodate the kind of behavior referred to in Ellsberg’s paradox. This essay surveys both.

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Year of publication:	2004
Authors:	Zurita, Felipe
Institutions:	Instituto de Economía, Facultad de Ciencia Económicas y Administrativas

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Extent:	application/pdf
Series:	Documentos de Trabajo. - ISSN 0717-7593.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Published as "Beyond Earthquakes: The New Directions of Expected Utility Theory", Cuadernos de Economía, Vol. 42, Nº 126, pp. 209-255, 2005. Number 260
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005812205