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Keynes's methodology and the analysis of economic agent behavior in a complex world

Arena, Richard; Nasica, Eric - In: Revue d'économie politique 131 (2021) 3, pp. 371-402

Persistent link: https://www.econbiz.de/10012886218

The standard model of rational risky decision-making

Falahati, Kazem - In: Journal of risk and financial management : JRFM 14 (2021) 4, pp. 1-22

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 …

Persistent link: https://www.econbiz.de/10012520657

Rationality and uncertainty

Postlewaite, Andrew; Schmeidler, David - In: Rivista internazionale di scienze sociali 120 (2012) 3, pp. 289-294

Persistent link: https://www.econbiz.de/10010200248

A Note on the Risk Behavior and Death of Homo Economicus

Johansson-Stenman, Olof - 2006

Recent papers by Cox and Sadiraj (2006) and Rubinstein (2006) have pointed out that expected utility theory is more … with conventional consumption theory, where people are time consistent and integrate all sources of income perfectly …

Persistent link: https://www.econbiz.de/10014055918

Human behavior and Austrian economics

Dierks, Leef H. - In: The Emergence of a Tradition: Essays in Honor of Jesús …, (pp. 83-87). 2023

Persistent link: https://www.econbiz.de/10014309329

Axiom preferences and choice mistakes under risk

Herweg, Fabian; Hippel, Svenja; Müller, Daniel; … - 2024

We investigate whether violations of canonical axioms of choice under risk are mistakes or a manifestation of true preferences. First, we elicit axiom and gamble preferences and then allow subjects to revise their potentially conflicting preferences. Among the behavioral patterns that allow for...

Persistent link: https://www.econbiz.de/10014556632