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academic disciplines has the potential to inform all types of financial decisions. The psychology literature shows how the …
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This paper discusses the ways by which a certain type of behavioral deviation from expected utility theory has been handled by psychologists and economists. With respect to the historical background of decision theory in economics, it is argued that there are good reasons for more theoretical...
Persistent link: https://www.econbiz.de/10010860430
The analysis of the psychological dispositions of political actors, their institutional implications and impact on public policy has received increasing academic attention in recent decades. We believe that the state of the art merits an introductory review to guide the reader on the major...
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in which decision-making is usually construed in philosophy, economics and psychology, I review many important findings …
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. We show how this probabilistic opposition has indirectly shaped a controversy in psychology that opposes two research … programs - Heuristics and Biases and Ecological Rationality - which play respective roles in the foundations of individual … rationality in BE and EME. To understand these theoretical interrelationships, we investigate the 1996 controversy between …
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Economic research shows that candidates have a higher chance of getting (re-)elected when they have the luck that the world economy does well even though this is beyond their control and unrelated to their competence. Psychological research demonstrates that candidates increase their chances if...
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