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Group Representations for Decision Making under Risk and Uncertainty

Charles-Cadogan, G. - 2012

This paper extends decision making under risk and uncertainty to group theory via representations of invariant … in decision theory. Moreover, representations include the special unitary group SU(2) and orthogonal group Θ …-Pauli Hamiltonian to compute, inter alia, time dependent probabilities in decision field theory …

Persistent link: https://www.econbiz.de/10013096459

Decision-Making Under Risk : When Is Utility Maximization Equivalent To Risk Minimization?

Ruscitti, Francesco; Dubey, Ram Sewak; Laguzzi, Giorgio - 2023

We consider a standard one-agent decision-making problem under risk and we address the following question: under what … conditions is utility maximization equivalent to 'risk' minimization, where the measure of risk used by the decision-maker is a …

Persistent link: https://www.econbiz.de/10014263940

Agent-based modeling for decision making in economics under uncertainty

Vermeulen, Ben; Pyka, Andreas - 2016

Ever since the emergence of economics as a distinct scientific discipline, policy makers have turned to economic models to guide policy interventions. If policy makers seek to enhance growth of an open capitalist economy, they have to take into account, firstly, the uncertainties,...

Persistent link: https://www.econbiz.de/10011422415

Agent-based modeling for decision making in economics under uncertainty

Vermeulen, Ben; Pyka, Andreas - 2015

Persistent link: https://www.econbiz.de/10011281255

A data-driven explainable case-based reasoning approach for financial risk detection

Li, Wei; Paraschiv, Florentina; Sermpinis, Georgios - 2021

The rapid development of artificial intelligence methods contributes to their wide applications for forecasting various financial risks in recent years. This study introduces a novel explainable case-based reasoning (CBR) approach without a requirement of rich expertise in financial risk....

Persistent link: https://www.econbiz.de/10012584957

Statistical foundations of ecological rationality

Brighton, Henry - 2020

If we reassess the rationality question under the assumption that the uncertainty of the natural world is largely unquantifiable, where do we end up? In this article the author argues that we arrive at a statistical, normative, and cognitive theory of ecological rationality. The main casualty of...

Persistent link: https://www.econbiz.de/10012159880

Social distancing and risk taking : evidence from a team game show

Bourgeon, Jean-Marc; Sousa, José de; Noir-Luhalwe, Alexis - 2022

We examine the risky choices of pairs of contestants in a popular radio game show in France. At one point during the COVID-19 pandemic the show, held in person, had to switch to an all-remote format. We find that such an exogenous change in social context affected risk-taking behavior. Remotely,...

Persistent link: https://www.econbiz.de/10013440406

First and second degree transformations and comparative statics under uncertainty

Ormiston, Michael B. - In: International economic review 33 (1992) 1, pp. 33-44

Persistent link: https://www.econbiz.de/10001119802

Equilibrium versus understanding : towards the restoration of economics as social theory

Addleson, Mark S. - 1995

Persistent link: https://www.econbiz.de/10013420874

Equilibrium versus Understanding : Towards the Rehumanizing of Economics within Social Theory

Addleson, Mark - 1995

Neo-classical theory is incapable of explaining or understanding human conduct. The author favours an interpretative approach to social theory, providing a novel critique of equilibrium theory and insight into the nature of business decisions

Persistent link: https://www.econbiz.de/10015403168