9781334301490 - The Practical Justifiability of "Irrational" Aversion to Risk (Classic Reprint) de Wilcox, Jarrod Whitfield (4 resultados)

PAP. Condición: New. New Book. Shipped from UK. Established seller since 2000.

PAP. Condición: New. New Book. Shipped from UK. Established seller since 2000.

Paperback. Condición: New. Print on Demand. This book challenges the validity of the expected utility hypothesis in the face of the cognitive limitations of real-world decision-makers. The author argues that when individuals confront local problems within a larger global context, they may justifiably depart from the assumptions of monotonicity (the preference for risk-aversion). The book explores situations where these deviations occur, arguing that decision theory should consider cognitive limitations and provide alternative frameworks for prescriptive guidance. This book offers a valuable analysis of the complexities of real-world decision-making and its implications for normative theory and empirical research on individual decisions and microeconomics. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item.

Condición: New. KlappentextrnrnExcerpt from The Practical Justifiability of Irrational Aversion to RiskMy aim is to persuade management scientists, and social scientists generally, of a specific need for modification of decision theory as a prescripti.