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eliminate the possibility to make a normative argument supporting a multidimensional notion of utility. -- utility ; pleasures …The concept of "utility" is often used in ambiguous ways in economics, from having substantive psychological … can we compare different pleasures? This paper assesses the evidence from psychology and neurosciences on how to best …
Persistent link: https://www.econbiz.de/10003905687
-purpose measure of value: utility, which is often instrumented by consumption. Collective action is therefore only sustainable where … an extrinsic motive for pro-social behaviour. I formalise the mechanism by proposing a simple utility function in which …
Persistent link: https://www.econbiz.de/10012617569
We assess whether a cardinal model can be used to relate neural observables to stochastic choice behaviour. We develop a general empirical framework for relating any neural observable to choice prediction, and propose a means of bench-marking their predictive power. In a previous study,...
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This is the first definitive introduction to behavioral economics aimed at advanced undergraduate and postgraduate students. Authoritative, cutting edge, yet accessible, it guides the reader through theory and evidence, providing engaging and relevant applications throughout
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preferences (as implied by popular random utility models) and standard neuroeconomic models of choice, which update decision …
Persistent link: https://www.econbiz.de/10012510630