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I experimentally examine whether feedback about others' choices provides an anchor for decision-making under ambiguity …
Persistent link: https://www.econbiz.de/10010364762
makes an ambiguity averse decision maker (DM) worse off but does not affect the welfare of an ambiguity neutral DM. A more …
Persistent link: https://www.econbiz.de/10011694759
In confidence theory, the decision maker relies on statistical regularities from the economic environment to adopt … prior in Bayesian inference is proportional to the uncertainty related to its distribution, the decision maker arrives at … revised stated probabilities that were used in the evaluation of certainty equivalents. The decision model employed in …
Persistent link: https://www.econbiz.de/10013061467
The decision-theoretic literature has developed very few techniques to bound the expected utility of a random variable …
Persistent link: https://www.econbiz.de/10014150815
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
all decision theorists agree that values and beliefs jointly influence willingness to act under uncertainty. However …. Our purpose in this chapter is to bring into sharper focus the role of values and beliefs in decision under uncertainty …
Persistent link: https://www.econbiz.de/10014055135
of the decision, t=m, the decision maker (DM) possesses partial information about the events/propositions of interest: DM …
Persistent link: https://www.econbiz.de/10014358482
We present a general classification of the conditions under which cognitive science, concerned e.g. with decision … under uncertainty. Conditions for the appearance of quantum interference in cognitive sciences and the conditions when … interference cannot arise are formulated …
Persistent link: https://www.econbiz.de/10009751180
We derive critical values for the violation area in Nth order Almost Stochastic Dominance based on the Nth degree coefficient of relative risk aversion of reasonable utility functions. Our critical values are consistent with existing experimental estimates but apply for a broader range of choice...
Persistent link: https://www.econbiz.de/10013014682
We examine generational differences in risk-taking behavior by means of a laboratory experiment with monetary incentives. We estimate the parameterized models in the framework of cumulative prospect theory and examine the risk aversion, probability weightings and reference point adoption of...
Persistent link: https://www.econbiz.de/10003757815