Economic Behavior Under Uncertainty

Masao Ogaki and Saori C. Tanaka ()
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Saori C. Tanaka: ATR Brain Information Communication Research Laboratory Group

Chapter Chapter 3 in Behavioral Economics, 2017, pp 33-54 from Springer

Abstract: Abstract The chapter explains the expected utility hypothesis as a useful theory of decisions under uncertainty in traditional economics. There have been paradoxes, found in experiments and hypothetical surveys that cannot possibly be explained by the expected utility hypothesis.

Keywords: Expected utility theory; Risk aversion; Allais paradox; Ellsberg paradox; Temptation; Self-control (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-981-10-6439-5_3

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DOI: 10.1007/978-981-10-6439-5_3

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