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Generalized Expected Utility Theory
John Quiggin
€ 184.78
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Description for Generalized Expected Utility Theory
Hardback. Examines the rank-dependent expected utility model (RDEU). This text considers this single model in an attempt to shed light on many of the concerns that have motivated the development of generalized utility models. Num Pages: 208 pages, biography. BIC Classification: KCA; PBW. Category: (P) Professional & Vocational; (UP) Postgraduate, Research & Scholarly. Dimension: 234 x 156 x 14. Weight in Grams: 493.
Economic analysis of choice under uncertainty has been dominated by the expected utility (EU) model, yet the EU model has never been without critics. Psychologists accumulated evidence that individual choices under uncertainty were inconsistent with the predictions of the EU model. Applied work in areas such as finance was dominated by the simpler mean-variance analysis. In the 1980s this skepticism was dispelled as a number of generalizations of EU were proposed, most of which were capable of explaining evidence inconsistent with EU, while preserving transitivity and dominance.
Generalized ... Read more
Economic analysis of choice under uncertainty has been dominated by the expected utility (EU) model, yet the EU model has never been without critics. Psychologists accumulated evidence that individual choices under uncertainty were inconsistent with the predictions of the EU model. Applied work in areas such as finance was dominated by the simpler mean-variance analysis. In the 1980s this skepticism was dispelled as a number of generalizations of EU were proposed, most of which were capable of explaining evidence inconsistent with EU, while preserving transitivity and dominance.
Generalized ... Read more
Product Details
Format
Hardback
Publication date
1992
Publisher
Kluwer Academic Publishers United States
Number of pages
208
Condition
New
Number of Pages
208
Place of Publication
Dordrecht, Netherlands
ISBN
9780792393023
SKU
V9780792393023
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
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