Articles liés à Distorted Probabilities and Choice under Risk

Distorted Probabilities and Choice under Risk - Couverture souple

Puppe, Clemens

 
9783540542476: Distorted Probabilities and Choice under Risk

Synopsis

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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