Economic Choice Under Uncertainty: A Perspective Theory Approach |
Contents
Expected Utility | 1 |
A Sample of Experimental Findings and Their Possible | 17 |
On Perspective Theory | 29 |
Copyright | |
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Common terms and phrases
0-function action-choice alternative ascendancy function asset choice assigned assumed assumptions axioms behaviour bonds C₁ certainty of rightness ceteris paribus Chapter choice of action choice under uncertainty curve decision decision-making under uncertainty defined degree of belief degree of credibility degree of potential-surprise demand equations denotes derived economic agents effect entrepreneur expectation principle Expected Utility Theory feasible Figure formulated framework frontier G.L.S. Shackle gains and losses gains/losses gamble given hence Herbert Simon Hicks hypothesis indifference curve individual investor Kahneman and Tversky laboratory experiments linear lottery tickets machine Marginal Advantage maximize maximum mean monetary outcome Neumann-Morgenstern normally distributed output P-values paradigm Perspective Theory portfolio selection possible postulate potential-surprise functions preference probability density function probability distribution Problem prospect Regret Theory returns risk-aversion Safety-First schema Shackle Shackle's theory stochastic dominance strategy subjective probability Theorem uncertainty variable uncertainty-variable unit of investment utility function variance weight y₁