Experiments on Decisions under Risk: The Expected Utility Hypothesis: The Expected Utility Hypothesis - Tapa blanda

Schoemaker, P.J.H. J. H.

 
9789401750424: Experiments on Decisions under Risk: The Expected Utility Hypothesis: The Expected Utility Hypothesis
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ISBN 10: 9401750424 ISBN 13: 9789401750424
Editorial: Springer, 2014

Sinopsis

In this valuable book, Paul Schoemaker summarizes recent experimental and field research that he and others have undertaken regarding the descrip­ tive validity of expected utility theory as a model of choice under uncer­ tainty. His principal message is that this paradigm is too narrow in its con­ ception and misses some of the important elements of a descriptive model of individual choice. In particular, Schoemaker calls attention to the impor­ tance of individual differences, task effects, and context effects as they influence behavior. The expected utility hypothesis has come under scrutiny in recent years from a number of different quarters. This book brings together these many studies and relates them to the large body of literature on individual de­ cision making under risk. Although this paradigm may be appropriate for describing behavior under many conditions of uncertainty, Schoemaker presents convincing evidence that it does not do well with respect to protec­ tion against low-probability events. For example, he shows that the insur­ ance purchase decision is influenced by the way information is presented to the client, as well as by the statistical knowledge of the respondents.

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Reseña del editor

In this valuable book, Paul Schoemaker summarizes recent experimental and field research that he and others have undertaken regarding the descrip­ tive validity of expected utility theory as a model of choice under uncer­ tainty. His principal message is that this paradigm is too narrow in its con­ ception and misses some of the important elements of a descriptive model of individual choice. In particular, Schoemaker calls attention to the impor­ tance of individual differences, task effects, and context effects as they influence behavior. The expected utility hypothesis has come under scrutiny in recent years from a number of different quarters. This book brings together these many studies and relates them to the large body of literature on individual de­ cision making under risk. Although this paradigm may be appropriate for describing behavior under many conditions of uncertainty, Schoemaker presents convincing evidence that it does not do well with respect to protec­ tion against low-probability events. For example, he shows that the insur­ ance purchase decision is influenced by the way information is presented to the client, as well as by the statistical knowledge of the respondents.

"Sobre este título" puede pertenecer a otra edición de este libro.

Editorial
Springer
Año de publicación
2014
Idioma
Inglés
ISBN 10 
9401750424
ISBN 13 
9789401750424
Encuadernación
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Número de páginas
236
Contacto del fabricante
ProductSafety@springernature.com
ProductSafety@springernature.com

Poststr. 9
Darmstadt
64293
Alemania

Otras ediciones populares con el mismo título

9780898380354: Experiments on Decision Under Risk: The Expected Utility Hypothesis

Edición Destacada

ISBN 10:  0898380359 ISBN 13:  9780898380354
Editorial: Kluwer Academic Publishers, 1980
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