Shavit, Tal; Rosenboim, Mosi; Shani, Yaniv - In: Applied Economics Letters 20 (2013) 2, pp. 127-130
According to basic economic theory, people wish to maximize their expected utility. In order to do so they should integrate the likelihood (i.e. probability) and the possible outcomes (good or bad). Nevertheless, research has shown that people do not always account for their decisions on the...