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Pasche, Markus - 1997

Persistent link: https://www.econbiz.de/10000973527

The Knowledge Ahead Approach to Risk : Theory and Experimental Evidence

Pope, Robin (contributor); Leitner, Johannes (contributor); … - 2007

This book is written for those seeking a decision theory appropriate for use in serious choices such as insurance. It … standard decision theories like expected utility or cumulative prospect theory. …This book is written for those seeking a decision theory appropriate for use in serious choices such as insurance. It …

Persistent link: https://www.econbiz.de/10013520645

On the psychological foundations of ambiguity and compound risk aversion

Wu, Keyu; Fehr, Ernst; Hofland, Sean; Schonger, Martin - 2024

Ambiguous prospects are ubiquitous in social and economic life, but the psychological foundations of behavior under ambiguity are still not well understood. One of the most robust empirical regularities is the strong correlation between attitudes towards ambiguity and compound risk which...

Persistent link: https://www.econbiz.de/10014551421

Quantum decision theory and the Ellsberg paradox

Al-Nowaihi, Ali; Dhami, Sanjit S.; Wei, Mengxing - 2018

We formulate a simple quantum decision model of the Ellsberg paradox. We report the results of an experiment we performed to test the matching probabilities predicted by this model using an incentive compatible method. We find that the theoretical predictions of the model are in conformity with...

Persistent link: https://www.econbiz.de/10011877824