Search Results - subject:"expected utility theory"

How Politicians Make Decisions: A Political Choice Experiment

Fatás, Enrique; Neugebauer, Tibor; Tamborero, Pilar - Instituto de Estudios Sociales de Andalucía (IESA) - 2004

The present paper reports on a political choice experiment with elected real-world politicians. A questionnaire on political and public issues is taken to examine whether prospect theory predicts the responses of experts from the field better than rational choice theory. The results indicate...

Persistent link: https://www.econbiz.de/10005531014

Daniel Kahneman et l'analyse de la décision face au risque

Gollier, Christian; Hilton, Denis; Raufaste, Eric - In: Revue d'économie politique 113 (2003) 3, pp. 295-307

. Many studies conducted in psychology and economics have shown that classical economic expected utility theory does not …

Persistent link: https://www.econbiz.de/10011187141

A quantitative and qualitative test of the Allais paradox using health outcomes

Oliver, Adam - London School of Economics (LSE) - 2003

There have been many tests of the descriptive validity of the axioms of expected utility theory (EU) using money …

Persistent link: https://www.econbiz.de/10010884553

The internal consistency of the standard gamble: tests after adjusting for prospect theory

Oliver, Adam - London School of Economics (LSE) - 2003

This article reports a study that tests whether the internal consistency of the standard gamble can be improved upon by incorporating loss weighting and probability transformation parameters in the standard gamble valuation procedure. Five alternatives to the standard EU formulation are...

Persistent link: https://www.econbiz.de/10010928594

Re-examining the law of iterated expectations for Choquet decision makers

Zimper, Alexander - In: Theory and Decision 71 (2011) 4, pp. 669-677

Persistent link: https://www.econbiz.de/10009327384

Do Ethics Matter? Tax Compliance and Morality

Alm, James; Torgler, Benno - In: Journal of Business Ethics 101 (2011) 4, pp. 635-651

Persistent link: https://www.econbiz.de/10009327616

Preference-Dependent Unawareness

Schipper, Burkhard - Economics Department, University of California-Davis - 2011

Morris (1996, 1997) introduced preference-based definitions of knowledge of belief in standard state-space structures. This paper extends this preference-based approach to unawareness structures (Heifetz, Meier, and Schipper, 2006, 2008). By defining unawareness and knowledge in terms of...

Persistent link: https://www.econbiz.de/10008914729

Can expected utility theory explain gambling?

Farrell, Lisa; Hartley, Roger - School of Economics, University College Dublin - 2002

We investigate the ability of expected utility theory to account for simultaneous gambling and insurance. Contrary to a … previous claim that borrowing and lending in perfect capital markets removes the demand for gambles, we show expected utility … theory with nonconcave utility functions can explain gambling. When the rates of interest and time preference are equal …

Persistent link: https://www.econbiz.de/10011269402

On the surprising finding that expected utility is literally computed in the brain

Vromen, Jack - In: Journal of Economic Methodology 17 (2010) 1, pp. 17-36

to expected utility theory, if that theory is taken to be a theory about individual and aggregate behavior. Findings that … in some particular tasks expected utility theory predicts neural activity fairly accurately do not imply that expected …. What the findings do suggest, it is argued, is that expected utility theory is useful for understanding decision-making at …

Persistent link: https://www.econbiz.de/10008503082

Rationality on the rise: Why relative risk aversion increases with stake size

Fehr-Duda, Helga; Bruhin, Adrian; Epper, Thomas; … - In: Journal of Risk and Uncertainty 40 (2010) 2, pp. 147-180

Persistent link: https://www.econbiz.de/10008552547