Forbidden Zones for the Expectations of Data: New Mathematical Methods and Models for Behavioral Economics

Alexander Harin

Academic Journal of Applied Mathematical Sciences, 2022, vol. 8, issue 1, 12-26

Abstract: A forbidden zone theorem, hypothesis, and applied mathematical method and model are introduced in the present article. The method and model are based on the forbidden zones and hypothesis. The article is initiated by the well-known generic problems concerned with the mathematical description of the behavior of a man. The essence of the problems consists in biases of preferences and decisions of a man in comparison with predictions of the probability theory. The model is uniformly and successfully applied for different domains. The ultimate goal of the research is to solve some generic problems of behavioral economics, decision theories, and the social sciences.

Keywords: Expectation; Variation; Boundary; Utility; Prospect theory. (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:arp:ajoams:2021:p:12-26

DOI: 10.32861/ajams.81.12.26

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