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Trafficking in drugs and economic theory
Pandey, S.S.D. - 1991
.By using developments in other human sciences, study opens the road leading to more realistic economic theory. …
Persistent link: https://www.econbiz.de/10015229963
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When do populations polarize? An explanation
Benoît, Jean-Pierre; Dubra, Juan - 2018
polarization. We propose a theory of rational updating that accounts for both the positive and negative experimental findings. This …
Persistent link: https://www.econbiz.de/10015259990
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On Feelings as a Heuristic for Making Offers in Ultimatum Negotiations
Stephen, Andrew T.; Pham, Michel Tuan - 2008
This research examines how the reliance on emotional feelings as a heuristic influences the proposal of offers in negotiations. Results from three experiments based on the classic ultimatum game show that, compared to proposers who do not rely on their feelings, proposers who rely on their...
Persistent link: https://www.econbiz.de/10015260898
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Another Solution for Allais Paradox: Preference Imprecision, Dispersion and Pessimism
Bayrak, Oben - 2016
the new model, the new model acts like a mixture of Expected Utility Theory and Rank Dependent Utility Theory depending on …
Persistent link: https://www.econbiz.de/10015252118
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A note about loss aversion in terms of bounded cardinal utility theory
Miller, Anne - 2024
Bounded cardinal utility theory (BCUT), built on the seminal work of Van Praag (1968), is based on three axioms. • The … (additive). Walasek et al (2024) point out that ‘there was never a clear psychological theory about the causes of loss aversion …’s endowments are less than subsistence, and the theory predicts that (decreasing) loss aversion occurs only if the individual …
Persistent link: https://www.econbiz.de/10015214120
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Status Quo Bias, Multiple Priors and Uncertainty Aversion
Ortoleva, Pietro - 2008
study this phenomenon from a decision-theoretic prospective, focusing on the case of preferences under uncertainty. We … more uncertainty averse than she would be without a status quo option. Finally, we apply the model to a financial choice …
Persistent link: https://www.econbiz.de/10015214313
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Representation of strongly independent preorders by sets of scalar-valued functions
McCarthy, David; Mikkola, Kalle; Thomas, Teruji - 2017
We provide conditions under which an incomplete strongly independent preorder on a convex set X can be represented by a set of mixture preserving real-valued functions. We allow X to be infinite dimensional. The main continuity condition we focus on is mixture continuity. This is sufficient for...
Persistent link: https://www.econbiz.de/10015256142
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On the attitude to risk and the decision-making behavior
Cocioc, Paul - 2017
. Delimitation of the risk from the uncertainty is based on Knight’s views. Basically decisions are analyzed in a conventional manner … outcomes for risk-taking. The comments and conclusions highlight certain limits on rationality in economic decision. …
Persistent link: https://www.econbiz.de/10015258775
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Biases and Implicit Knowledge
Cunningham, Thomas - 2013
uses the entire information set, but is only occasionally activated. This theory faces two important problems: that …
Persistent link: https://www.econbiz.de/10015238964
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Consumer search behavior and willingness to pay for insurance under price dispersion
Malakhov, Sergey - 2014
When the increase in income reduces the time of search and increases prices of purchases, the increase in price can be presented as the increase in the willingness to pay for insurance. The optimal consumer decision represents the trade-off between the propensity to search for proficient...
Persistent link: https://www.econbiz.de/10015244676