Demand Under Risk and Uncertainty: A Fast and Frugal Way to Make Money

Li Way Lee () and Aaron Keathley ()
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Li Way Lee: Wayne State University
Aaron Keathley: Wayne State University

Chapter Chapter 23 in 45 Conversations About Behavioral Economics, 2022, pp 93-95 from Springer

Abstract: Abstract We don’t know much about all those stocks and bonds out there. We know they have risks, but we don’t know their risksrisk in terms of probabilities of good, bad, and ugly outcomes. So what we face is uncertaintyuncertainty. How do we make decisions about investment in the face of uncertainty? Gerd Gigerenzer recommends the “I/N heuristic.” What is that? How does it differ from the “index heuristicindex heuristic”?

Date: 2022
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DOI: 10.1007/978-3-031-05046-6_23

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