Showing 1 - 10 of 1,953
Many studies document failures of expected utility’s key assumption, the independence axiom. Here, we show that …
Persistent link: https://www.econbiz.de/10011074871
Persistent link: https://www.econbiz.de/10009149491
According to G. Becker, the expected utility model (EUM) is the most powerful social sciences can use. The main reason …
Persistent link: https://www.econbiz.de/10011187195
Persistent link: https://www.econbiz.de/10005037412
The paper aims at a conceptual contribution to the normative economic analysis of rural de-velopment (RD) policies. RD is regarded as a problem of interaction between individuals; (lacking) structural change or the (missing) integration of externalities are therefore recon-structed as...
Persistent link: https://www.econbiz.de/10008526818
dominance and classes of utility functions in this general case, and expresses the conditions on bounds in terms of differences …
Persistent link: https://www.econbiz.de/10010821246
this theorem to explain the well-known problems of utility and decision theories, such as risk aversion, the underweighting … interpretation, probability theory, statistics, management, finance, investment, insurance, etc. …
Persistent link: https://www.econbiz.de/10010899454
The theorem of existence of the ruptures in the probability scale is used to solve some problems of modelling of the economic behavior of a man. The “four-fold-pattern” paradox is considered as an example of such solution.
Persistent link: https://www.econbiz.de/10010983894
theory, are briefly presented. Similar experiments may be associated with the old problems of utility theory, such as the … example, by the influence of observation noises. Applications of the theorems to experiments, which are typical of the utility … including explanations by utility models. …
Persistent link: https://www.econbiz.de/10010927787
Uncertainty means partially or totally knowing the probabilities to accomplish an action’s potential results.
Persistent link: https://www.econbiz.de/10008490475