Experiments on Decisions under Risk: The Expected Utility Hypothesis

Name: Experiments on Decisions under Risk: The Expected Utility Hypothesis
Brand: Springer
SKU: 9789401750424
Price: 52.58 EUR
Availability: InStock

Автор: P.J.H. Schoemaker

Език:

Корици: С меки корици

Издател: Springer

Наличност: Външен склад

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52.58 € 102.83 лв

In this valuable book, Paul Schoemaker summarizes recent experimental and field research that he and...

Информация за книгата

Автор

P.J.H. Schoemaker

Език

Английски език

Корици

Книга - С меки корици

Издадена

2013

страници

211

EAN

9789401750424

ISBN

9401750424

Enbook ID

05187988

Издател

Springer

Теглоt

358

Размери

228 x 154 x 21

Пълно описание

In this valuable book, Paul Schoemaker summarizes recent experimental and field research that he and others have undertaken regarding the descrip tive validity of expected utility theory as a model of choice under uncer tainty. His principal message is that this paradigm is too narrow in its con ception and misses some of the important elements of a descriptive model of individual choice. In particular, Schoemaker calls attention to the impor tance of individual differences, task effects, and context effects as they influence behavior. The expected utility hypothesis has come under scrutiny in recent years from a number of different quarters. This book brings together these many studies and relates them to the large body of literature on individual de cision making under risk. Although this paradigm may be appropriate for describing behavior under many conditions of uncertainty, Schoemaker presents convincing evidence that it does not do well with respect to protec tion against low-probability events. For example, he shows that the insur ance purchase decision is influenced by the way information is presented to the client, as well as by the statistical knowledge of the respondents.

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Experiments on Decisions under Risk: The Expected Utility Hypothesis

Информация за книгата

Пълно описание

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