Beyond Earthquakes: The New Directions of Expected Utility Theory

Felipe Zurita

No 260, Documentos de Trabajo from Instituto de Economia. Pontificia Universidad Católica de Chile.

Abstract: Over the past two decades or so, an enormous amount of work has been done to improve the Expected Utility model. Two areas have attracted major attention: the possibility of describing unforeseen contingencies and the need to accommodate the kind of behavior referred to in Ellsberg's paradox. This essay surveys both.

Date: 2004
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Published as "Beyond Earthquakes: The New Directions of Expected Utility Theory", Cuadernos de Economía, Vol. 42, Nº 126, pp. 209-255, 2005.

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Journal Article: Beyond Earthquakes: The New Directions of Expected Utility Theory (2005)
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Persistent link: https://EconPapers.repec.org/RePEc:ioe:doctra:260

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