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We define a behavioral concept of relevance in the context of decision making under uncertainty.  We argue that this concept provides a sensible answer to the question "What probabilistic environments do an individuals' preferences reveal as mattering to her decisions?" under a symmetry...
Persistent link: https://www.econbiz.de/10010605069
We axiomatize preferences that can be represented by a monotonic aggregation of subjective expected utilities generated by a utility function and some set of i.i.d. probability measures over a product state space, S1. For such preferences, we define relevant measures, show that they are treated...
Persistent link: https://www.econbiz.de/10010780802
but in its balance between public finance and public choice and its combination of theory and relevant empirical evidence …
Persistent link: https://www.econbiz.de/10010905536
apparent than in emerging markets. In Banking on Democracy, Javier Santiso investigates the links between politics and finance … markets have decoupled politics and finance, in the wake of the 2008Ð2012 financial crisis many developed economies (Europe … and the United States) have experienced a recoupling between finance and politics. …
Persistent link: https://www.econbiz.de/10010905558