Data dispersion near the boundaries: can it partially explain the problems of decision and utility theories?

Alexander Harin

Working Papers from HAL

Abstract: An existence theorem for a bias of the mean in the presence of data dispersion is proved. The ultimate aims are to use this theorem to explain the well-known problems of utility and decision theories, such as risk aversion, the underweighting of high and the overweighting of low probabilities, the Allais paradox, etc. The results may be used to estimate preferences, choices, decisions, (ir)rational behavior at data uncertainty, noises and experimental errors in experiments interpretation, probability theory, statistics, management, finance, investment, insurance, etc.

Keywords: data; behavior; rational; risk; noise; decision; utility (search for similar items in EconPapers)
Date: 2013-08-11
New Economics Papers: this item is included in nep-exp, nep-spo and nep-upt
Note: View the original document on HAL open archive server: https://hal.science/hal-00851022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
https://hal.science/hal-00851022/document (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:wpaper:hal-00851022

Access Statistics for this paper

More papers in Working Papers from HAL
Bibliographic data for series maintained by CCSD ().