Search Results - subject:"Expected utility theory"

Evolution of non-expected utility preferences

von Widekind, Sven - 2005

We investigate an extension of Dekel, Ely and Yilankaya's (2004) treatment of the evolution of preference to more general, possibly non-expected utility preferences. Along the lines of their analysis we consider a population of types that is repeatedly and randomly matched to play the mixed...

Persistent link: https://www.econbiz.de/10010272582

Distortion of Outcome and Probability Information in Risky Decisions

DeKay, Michael L.; Patiño-Echeverri, Dalia; Fischbeck, … - 2005

Substantial evidence indicates that information is distorted during decision making. However, no studies have assessed the distortion of outcome and probability information in risky decisions or the effects of ambiguity on information distortion. This paper reports two studies involving six...

Persistent link: https://www.econbiz.de/10009441297

Why Do People Pay Taxes? Prospect Theory Versus Expected Utility Theory

Dhami, Sanjit; al-Nowaihi, Ali - Department of Economics, Leicester University - 2005

Tax evasion analysis is typically based on an expected utility theory (EUT) framework. However, this leads to several … DEPARTMENT OF ECONOMICS WHY DO PEOPLE PAY TAXES? PROSPECT THEORY VERSUS EXPECTED UTILITY THEORY …/23 July 2005 Updated August 2006 Why Do People Pay Taxes? Prospect Theory Versus Expected Utility Theory ∗ Sanjit Dhami …

Persistent link: https://www.econbiz.de/10005422712

The Precautionary Principle in Environmental Policy and the Theory of Choice under Uncertainty

Quiggin, John - School of Economics, University of Queensland - 2005

The precautionary principle, presented as a guide to environmental policy decisions in the presence of uncertainty, has been the subject of vigorous debate. However, the has generally not been discussed in relation to formal theories of choice under uncertainty developed as generalizations of...

Persistent link: https://www.econbiz.de/10010910989

Rethinking Risk: Aspiration as Pure Risk

Davies, G.B. - Faculty of Economics, University of Cambridge - 2005

There exists no satisfactory theory of risk in current normative decision theories. Notions based on utility curvature, loss aversion and probability weighting are derivative, cannot be applied to non-numerical consequences, and are not psychologically intuitive. I develop a Pure Risk theory...

Persistent link: https://www.econbiz.de/10005647474

Evolution of non-expected utility preferences

Widekind, Sven von - Institut für Mathematische Wirtschaftsforschung, … - 2005

We investigate an extension of Dekel, Ely and Yilankaya's (2004) treatment of the evolution of preference to more general, possibly nonexpected utility preferences. Along the lines of their analysis we consider a population of types that is repeatedly and randomly matched to play the mixed...

Persistent link: https://www.econbiz.de/10005687751

The law of demand versus diminishing marginal utility

Beattie, Bruce R.; LaFrance, Jeffrey T - Department of Agricultural and Resource Economics, … - 2005

Persistent link: https://www.econbiz.de/10009492835

The precautionary principle in environmental policy and the theory of choice under uncertainty

Quiggin, John - Risk and Sustainable Management Group (RSMG), School of … - 2005

Persistent link: https://www.econbiz.de/10008585976

The law of demand versus diminishing marginal utility

Beattie, Bruce R.; LaFrance, Jeffrey T. - Department of Agricultural and Resource Economics, … - 2005

Diminishing marginal utility is neither necessary nor sufficient for downward sloping demand. Yet upper-division undergraduate and beginning graduate students often presume otherwise. This paper provides two simple counter examples that can be used to help students understand that the Law of...

Persistent link: https://www.econbiz.de/10010676584

Parametric multi-attribute utility functions for optimal profit under risk constraints

Seck, Babacar; Andrieu, Laetitia; Lara, Michel De - In: Theory and Decision 72 (2012) 2, pp. 257-271

Persistent link: https://www.econbiz.de/10010865830