Extent: | Online-Ressource (XV, 207 p. 44 illus., 11 illus. in color, online resource) |
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Series: | |
Type of publication: | Book / Working Paper |
Language: | English |
Notes: | Includes bibliographical references Preface; About the Author; Contents; Part I: Behavioral Decision Theory and the Idea of It; Chapter 1: Decision-Making Phenomenon and Behavioral Decision Theory; 1 What Is Decision-Making?; 2 Structure of Preference Relations and Decision-Making Problems; 3 Decision-Making and Uncertainty; 3.1 Decision-Making Under Certainty; 3.2 Decision-Making Under Risk; 3.3 Decision-Making Under Uncertainty; 4 Approaches to Decision-Making Research and Behavioral Decision Theory; References; Part II: Preference Reversal Phenomenon and Description of the Phenomenon Chapter 2: Ordinal Utility and Preference Reversal Phenomenon1 What Is Utility?; 2 Does a Weak Order Empirically Hold?; 3 Preference Reversal Phenomenon; References; Chapter 3: Causes of Preference Reversal Phenomenon; 1 Summary of the Preference Reversal Phenomenon; 2 Explanation Based on Regret Theory That Assumes Non-transitivity; 3 Explanation Based on a ``Deviation from Procedural Invariance´´ That Does Not Assume Non-transitivity; References; Chapter 4: Psychology of Preference Reversals and Prominence Hypothesis; 1 Prominence Hypothesis and Preference Reversal Phenomenon 2 Contingent Weighting Model3 Verification Experiments for Contingent Weighting Model; 4 Interpretation of Interpret Procedural Invariance: The Scale Compatibility Principle; References; Part III: Expected Utility Theory and Its Counterexamples; Chapter 5: Expected Utility Theory and Psychology; 1 The St. Petersburg Paradox and Expected Utility; 1.1 St. Petersburg Paradox; 1.2 Solution to the Paradox; 2 Relevance Between Fechner´s Psychophysics and Logarithmic Utility Function; 3 Possible Psychophysical Laws and Utility Function 4 Study of the Measurement of Utility Based on the Expected Utility TheoryReferences; Chapter 6: Axioms and Counterexamples Expected Utility Theory; 1 Decision-Making Under Risk and Premises of Expected Utility Theory; 1.1 Review of the Structure of Decision-Making Under Risk; 1.2 Redefinition of Gambling; 2 Axiomatic System of Expected Utility Theory; 2.1 Linear Utility Model; 2.2 Theorem of Expected Utility of von Neumann and Morgenstern; 3 Counterexamples of Expected Utility Theory; 3.1 The Allais Paradox; 3.2 The Ellsberg Paradox; References; Part IV: Decision Making and Prospect Theory Chapter 7: Preference Paradox and Nonlinear Expected Utility Theory1 Relations Between Independence Axiom and Paradoxes; 1.1 Independence Axiom Under Risk; 1.2 Independence Axiom Under Uncertainty; 2 Non-additive Probability and Nonlinear Utility Theory; 3 Basic Assumptions of Prospect Theory; 3.1 Editing Phase; 3.2 Evaluation Phase; References; Chapter 8: Prospect Theory and Decision-Making Phenomena; 1 Empirical Research on the Value Function and Reflection Effect; 2 Empirical Research on the Value Function and Loss Aversion; 3 Empirical Research on Probability Weighting Function 4 Cumulative Prospect Theory |
ISBN: | 978-4-431-54580-4 ; 978-4-431-54579-8 |
Other identifiers: | 10.1007/978-4-431-54580-4 [DOI] |
Source: | ECONIS - Online Catalogue of the ZBW |
Persistent link: https://www.econbiz.de/10014017585