ENGLISH

The Knowledge Ahead Approach to Risk: Theory and Experimental Evidence (Lecture Notes in Economics and Mathematical Systems)

By Robin Pope , Johannes Leitner , Ulrike Leopold-Wildburger

Book information

Publisher
Springer
Year
2006
ISBN
3540384723, 9783540384724
Open Library ID
OL9056836M
Language
english
Format
PDF
Filesize
1023 kB (1047094 bytes)
Edition
1
Pages
245\236
Topic
Economy
Time added
2011-06-04 13:46:07

Description

This book is written for those seeking a decision theory appropriate for use in serious choices such as insurance. It employs stages of knowledge ahead to track satisfactions and dissatisfactions. From experimental and questionnaire data, people take into account such stages of knowledge ahead satisfactions and dissatisfactions. This means we must go beyond standard decision theories like expected utility or cumulative prospect theory.

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