The book develops a new model of individual choice under risk within the general framework of rank-dependent utility theory. The new approach captures simultaneously an optimistic attitude towards gambling and risk averse behavior. The model is then applied to some of the observed behavioral patterns contradicting the expected utility hypothesis.
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Vendeur : NEPO UG, Rüsselsheim am Main, Allemagne
(Berlin. Etat : Gut. VIII, 100 S. ; 25 cm Das Buch befindet sich in einem dem Alter endsprechendem guten , gelesenen Zustand.Die Seiten und der Einband sind intakt.BuchrueckenEckenKanten koennen leichte Gebrauchsspuren aufweisen. Sprache: Deutsch Gewicht in Gramm: 470 Softcover reprint of the original 1st ed. 1991. N° de réf. du vendeur 406108
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Vendeur : Ria Christie Collections, Uxbridge, Royaume-Uni
Etat : New. In. N° de réf. du vendeur ria9783540542476_new
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Vendeur : Chiron Media, Wallingford, Royaume-Uni
PF. Etat : New. N° de réf. du vendeur 6666-IUK-9783540542476
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Vendeur : Books Puddle, New York, NY, Etats-Unis
Etat : New. pp. 116. N° de réf. du vendeur 263105472
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Vendeur : Majestic Books, Hounslow, Royaume-Uni
Etat : New. Print on Demand pp. 116 2 Illus. N° de réf. du vendeur 5823775
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Vendeur : Biblios, Frankfurt am main, HESSE, Allemagne
Etat : New. PRINT ON DEMAND pp. 116. N° de réf. du vendeur 183105482
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Vendeur : moluna, Greven, Allemagne
Etat : New. N° de réf. du vendeur 4893116
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Vendeur : Mispah books, Redhill, SURRE, Royaume-Uni
Paperback. Etat : Like New. Like New. book. N° de réf. du vendeur ERICA75835405424775
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Vendeur : AHA-BUCH GmbH, Einbeck, Allemagne
Taschenbuch. Etat : Neu. Neuware - During the development of modern probability theory in the 17th cen tury it was commonly held that the attractiveness of a gamble offering the payoffs :1:17 --- ,:l: with probabilities Pl, . . . , Pn is given by its expected n value L:~ :l:iPi. Accordingly, the decision problem of choosing among different such gambles - which will be called prospects or lotteries in the sequel-was thought to be solved by maximizing the corresponding expected values. The famous St. Petersburg paradox posed by Nicholas Bernoulli in 1728, however, conclusively demonstrated the fact that individuals l consider more than just the expected value. The resolution of the St. Petersburg paradox was proposed independently by Gabriel Cramer and Nicholas's cousin Daniel Bernoulli [BERNOULLI 1738/1954]. Their argument was that in a gamble with payoffs :l:i the decisive factors are not the payoffs themselves but their subjective values u( :l:i)' According to this argument gambles are evaluated on the basis of the expression L:~ U(Xi)pi. This hypothesis -with a somewhat different interpretation of the function u - has been given a solid axiomatic foundation in 1944 by v. Neumann and Morgenstern and is now known as the expected utility hypothesis. The resulting model has served for a long time as the preeminent theory of choice under risk, especially in its economic applications. N° de réf. du vendeur 9783540542476
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