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Generalized Expected Utility Theory
John Quiggin
€ 187.85
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Description for Generalized Expected Utility Theory
Paperback. Num Pages: 208 pages, biography. BIC Classification: KCHS; KJMD; KJT. Category: (P) Professional & Vocational. Dimension: 234 x 156 x 12. Weight in Grams: 349.
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
Paperback
Publication date
2012
Publisher
Springer Netherlands
Number of pages
208
Condition
New
Number of Pages
208
Place of Publication
Dordrecht, Netherlands
ISBN
9789401049665
SKU
V9789401049665
Shipping Time
Usually ships in 15 to 20 working days
Ref
99-15
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