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This chapter surveys literature on experimental law and economics. Long the domain of legally minded psychologists and criminologists, experimental methods are gaining significant popularity among economists interested in exploring positive and normative aspects of law. Because this literature...
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their influence on investors' decision-making processes. The participants filled out questionnaires containing two parts: 1 …
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Expected utility theory (EUT) is currently the standard framework which formally defines rational decision-making under … behaviour under utility theory is incompatible with scarcity of resources, making behaviour consistent with EUT irrational and …
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remedy for these shortcomings by developing a dynamical model of procedurally rational decision making. The basic idea of the … model is a feedback loop between experienced utility, decision utility, and activities. In applications of the model, I show …
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