Daniel Friedman, R Mark Isaac, Duncan James

Risky Curves

On the Empirical Failure of Expected Utility

• Gebundenes Buch

Produktbeschreibung

For several decades, the orthodox economics approach to understanding choice under risk has been to assume that each individual person maximizes some sort of personal utility function defined over purchasing power. This new volume contests that even the best wisdom from the orthodox theory is inadequate, and proposes the return to a simpler sort of scientific theory of risky choice

Produktdetails

• Verlag: Routledge
• Seitenzahl: 152
• Erscheinungstermin: 3. Februar 2014
• Englisch
• Abmessung: 236mm x 157mm x 15mm
• Gewicht: 386g
• ISBN-13: 9780415636100
• ISBN-10: 0415636108
• Artikelnr.: 39356659

Autorenporträt

Daniel Friedman is Distinguished Professor of Economics, University of California, Santa Cruz, USA R. Mark Isaac is John and Hallie Quinn Eminent Scholar at Florida State University, USA Duncan James is Associate Professor (Economics) Fordham University, USA Shyam Sunder is James L. Frank Professor of Economics and Management at the Yale School of Management.

Inhaltsangabe

1. The Challenge of Understanding Choice Under Risk 2. Historical Review of
Research Through 1960 3. Measuring Individual Risk Preferences 4. Aggregate
Level Evidence From the Field 5. What are Risk Preferences? 6. Risky
Opportunities 7. Possible Ways Forward