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As in any research field, risk theory has its important questions, results, and paradoxes, as well as its seminal … papers and key authors. Louis Eeckhoudt has been a key author in the field of risk theory. To celebrate his many … contributions to the literature, and provides some illustrations of the remarkable research saga in risk theory over the last 50 …
Persistent link: https://www.econbiz.de/10010968958
We present a preference foundation for Chance Theory (CT), a model of decision making under uncertainty where the …
Persistent link: https://www.econbiz.de/10010886918
As in any research field, risk theory has its important questions, results, and paradoxes, as well as its seminal … papers and key authors. Louis Eeckhoudt has been a key author in the field of risk theory. To celebrate his many … contributions to the literature, and provides some illustrations of the remarkable research saga in risk theory over the last 50 …
Persistent link: https://www.econbiz.de/10011004782
The "hard-easy effect" is a well-known cognitive bias on self-confidence calibration that refers to a tendency to overestimate the probability of success in hard-perceived tasks, and to underestimate it in easy-perceived tasks. This paper provides a target-based foundation for this effect, and...
Persistent link: https://www.econbiz.de/10010951592
utilidad esperada y controvierte su afirmación de acuerdo con la cual la Prospect Theory (PT) de Kahneman y Tversky pone en …
Persistent link: https://www.econbiz.de/10011276526
An expected utility based cost-benefit analysis is in general fragile to its distributional assumptions. We derive necessary and sufficient conditions on the utility function of the expected utility model to avoid this. The conditions ensure that expected (marginal) utility remains finite also...
Persistent link: https://www.econbiz.de/10011261938
In decision theory projects are usually evaluated in terms of their riskiness, and often decision under risk is … risk acceptance, and aims at developing a theoretical framework based on networks theory. In doing this, the … for the risk-acceptance criterion to be consistent with the axiomatization of standard expected utility theory are also …
Persistent link: https://www.econbiz.de/10011264723