The Knowledge Ahead Approach to Risk : Theory and Experimental Evidence

by Robin Pope, Johannes Leitner, Ulrike Leopold-Wildburger

This book is written for those seeking a decision theory appropriate for use in serious choices such as insurance. It employs stages of knowledge ahead to track satisfactions and dissatisfactions. From experimental and questionnaire data, people take into account such stages of knowledge ahead satisfactions and dissatisfactions. This means we must go beyond standard decision theories like expected utility or cumulative prospect theory.

MoreLess

Year of publication:	2007
Other Persons:	Pope, Robin (contributor) ; Leitner, Johannes (contributor) ; Leopold-Wildburger, Ulrike (contributor)
Publisher:	Berlin, Heidelberg : Springer-Verlag Berlin Heidelberg
Subject:	Stages of Knowledge Ahead Theory \| SKAT \| Erwartungsnutzen \| Expected utility \| Begrenzte Rationalität \| Bounded rationality \| Versicherungsökonomik \| Economics of insurance \| Theorie \| Theory \| Entscheidung unter Risiko \| Decision under risk \| Entscheidungstheorie \| Risiko \| Erwarteter Nutzen \| Versicherung \| Experiment
Description of contents:	Table of Contents [swbplus.bsz-bw.de] ; Description [swbplus.bsz-bw.de] ; Description [zbmath.org] ; Description [deposit.dnb.de]

Extent:	Online-Ressource (XVI, 229 p. 51 illus, digital)
Series:	SpringerLink / Bücher
Type of publication:	Book / Working Paper
Language:	English
Notes:	Literaturverz. S. 205 - 218 CONTENTS; 1 Introduction; I Theory and Methodology; 2 A Serious Specific Scenario for a Serious Risky ChoiceTheory; 3 What Expected Utility Theory Really Is: What ItsNotion of Risk Aversion Excludes; 4 Primary and Secondary Satisfactions; 5 The von Neumann-Morgenstern Contradiction WhenIncluding Secondary Satisfactions Solved with Stagesof Knowledge; 6 Material Secondary Satisfactions and Planning; 7 Misconceptions About Secondary Satisfactions; 8 Biases in Experimental Set-ups That Ignore SecondarySatisfactions; 9 SKAT, The Stages of Knowledge Ahead Theory 10 Self Reports Versus Scientists' Own Introspection andRelated Reliability IssuesII Experiments; 11 Participants and Their Choices; 12 Willingness to Pay Compared with Choices in a DictatedChoice Set; 13 The Role of Secondary Satisfactions; 14 Algorithms Versus Global Maximising Procedures; 15 Insurance Provision by Governments and Firms; 16 Summary and Directions for Further Research; A Experimental Results in Detail; B Utility Shapes; C Questionnaire; D Glossary / Acronyms; References; Author Index; Subject Index
ISBN:	978-3-540-38474-8 ; 978-3-540-38472-4
Other identifiers:	10.1007/978-3-540-38474-8 [DOI]
Classification:	Methoden und Techniken der Betriebswirtschaft ; Wahrscheinlichkeitsrechnung ; Programmiermethodik
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013520645