Optimal Cognitive Processes for Lotteries.

The aim of the present paper is to propose a rational model of decision-making for lotteries. The key element of the theory is the use of cognitive processes. The maximization of the degree of confidence associated with each judgment involves different processes. Our contribution explains some major violations of the expected-utility theory for decisions on lotteries.

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Year of publication:	2001
Authors:	Alarie, Y. ; Dionne, G.
Institutions:	HEC Montréal (École des Hautes Études Commerciales)
Subject:	LOTTERY \| ECONOMIC MODELS \| RISK

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Series:	Ecole des Hautes Etudes Commerciales de Montreal-.
Type of publication:	Book / Working Paper
Notes:	29 pages
Classification:	D80 - Information and Uncertainty. General
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005618709