Models of risk preferences: descriptive and normative challenges

Behavioural economists have developed alternatives to Expected Utility Theory as descriptive and normative models of risk preferences. One popular view is that these alternative descriptive models are generally better descriptively, but that they tend to be inferior normative models for guiding risk...

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Bibliographic Details
Other Authors: Harrison, Glenn W. 1955- (Editor), Ross, Don 1962- (Editor)
Format: Electronic eBook
Language:English
Published: United Kingdom ; North America ; Japan ; India ; Malaysia ; China Emerald Publishing 2023
Edition:First edition
Series:Research in experimental economics volume 22
Subjects:
Online Access:FUBA1
FWS01
FWS02
UBR01
UEI03
UER01
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Summary:Behavioural economists have developed alternatives to Expected Utility Theory as descriptive and normative models of risk preferences. One popular view is that these alternative descriptive models are generally better descriptively, but that they tend to be inferior normative models for guiding risky decisions. Models of Risk Preferences collects studies that critically review these two claims from the perspective of experimental economics. The Research in Experimental Economics series focuses on laboratory experimental economics, but includes theoretical, empirical, or field economic research to encompass the broader experimental economics community.
Physical Description:1 Online-Ressource (ix, 254 Seiten)
ISBN:9781837972685
9781837972708
DOI:10.1108/S0193-2306202322