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Decision under risk : The classical Expected Utility model
Chateauneuf, Alain; Cohen, Michèle; Tallon, Jean-Marc - HAL - 2008
This chapter of a collective book aims at presenting the basics of decision making under risk. We first define notions … of risk and increasing risk and recall definitions and classifications (that are valid independently of any … representation) of behavior under risk. We then review the classical model of expected utility due to von Neumann and Morgenstern …
Persistent link: https://www.econbiz.de/10010738471
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Valuing life: experimental evidence using sensitivity to rare events
Chanel, Olivier; Chichilnisky, Graciela - HAL - 2011
Global environmental phenomena like climate change, major extinction events or flutype pandemics can have catastrophic consequences. By properly assessing the outcomes involved - especially those concerning human life - economic theory of choice under uncertainty is expected to help people take...
Persistent link: https://www.econbiz.de/10009645480
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Stochastic Dominance of Any Type and Any Degree, and Expected Utility: A Unifying Approach
Lapidus, André - HAL - 2013
This paper provides a general framework for a unifying treatment of stochastic dominance of any degree and of any type (direct or inverse for each final or intermediary level). It gives the conditions for the congruence between stochastic dominance and classes of utility functions in this...
Persistent link: https://www.econbiz.de/10010821246
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Rational behaviour, Risk aversion, High stakes for society
Palma, André De - HAL - 2008
Certain areas related to the topics under discussion here lie outside my field; for instance the evaluation of risk … powers to analyse the risk decision-making process over some years now. …
Persistent link: https://www.econbiz.de/10008794056
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Male and Female Competitive Behavior - Experimental Evidence
Gupta, Nabanita Datta; Poulsen, Anders; Villeval, … - HAL - 2005
such differences are driven by different attitudes towards competition. In our experiment subjects choose between a … women. Women are mainly influenced by their degree of risk aversion, but men are not. Men compete more against men than …
Persistent link: https://www.econbiz.de/10008790516
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Aging and Attitudes Towards Strategic Uncertainty and Competition: An Artefactual Field Experiment in a Swiss Bank
Madiès, Thierry; Villeval, Marie Claire; Wasmer, Malgorzata - HAL - 2012
stereotype of risk averse and less competitive older employees. …
Persistent link: https://www.econbiz.de/10010821398
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Intergenerational Attitudes Towards Strategic Uncertainty and Competition: A Field Experiment in a Swiss Bank
Madiès, Thierry; Villeval, Marie Claire; Wasmer, Malgorzata - HAL - 2013
With a market entry game inspired by Camerer and Lovallo (1999), we study the attitudes of junior and senior employees towards strategic uncertainty and competition. Seniors exhibit higher entry rates compared to juniors, especially when the market capacity is not too low or when earnings from...
Persistent link: https://www.econbiz.de/10010899002
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Decision making over necessities through the Choquet integral criterion
Rébillé, Yann - HAL - 2005
the probability that he wins the bet is given by its expected utility. Probalities are precise objects to model risk, but … imprecision. Nevertheless the description of risk is coherent. Our concern is to rank different necessity measures and rank them …
Persistent link: https://www.econbiz.de/10010750510
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Facts, Norms and Expected Utility Functions
Jallais, Sophie; Pradier, Pierre-Charles; Teira, David - HAL - 2008
In this paper we want to explore an argumentative pattern that provides a normative justification for expected utility functions grounded on empirical evidence, showing how it worked in three different episodes of their development. The argument claims that we should prudentially maximize our...
Persistent link: https://www.econbiz.de/10010750601
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The Attitude Toward Probabilities of Portfolio Managers : an Experimental Study
Roux, Nicolas - HAL - 2008
This paper proposes an experiment about the attitude toward probabilities on a population of portfolio managers. Its …
Persistent link: https://www.econbiz.de/10010738619