Data Dispersion in Economics (I) - Possibility of Restrictions
Alexander Harin ()
Review of Economics & Finance, 2012, vol. 2, 59-70
The article is devoted to data dispersion in economics. The state of the art and the problems of the utility theory are briefly reviewed. Examples of typical paradoxes, which are analyzed by the utility theory, are given. Analogous paradoxes may concern problems such as the underweighting of high and the overweighting of low probabilities, risk aversion, the equity premium puzzle, etc. Introductory examples of the restrictions near the boundaries of finite numerical segments and of the probability scale are considered and analyzed.
Keywords: Economics; Utility; Probability; Uncertainty; Decisions; Restrictions (search for similar items in EconPapers)
JEL-codes: C02 C44 D81 G22 (search for similar items in EconPapers)
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