To solve old problems of economics. The experimental background

Alexander Harin

MPRA Paper from University Library of Munich, Germany

Abstract: Old problems of the mathematical description of the economical behavior of a man are briefly reviewed. They are a comparison of choices of a man between uncertain and sure games and the radically different behavior of a man in different domains. The proposed solution of the problems consists in purely mathematical method and models and is briefly reviewed in the Appendix. The main attention is paid to the analysis of the experimental support of this possible solution. The generally accepted random incentive experimental procedures are discussed. A “certain-uncertain” inconsistency between the certain type of the choices and the uncertain type of the incentives is revealed and analyzed.

Keywords: behavior; decision; prospect theory; utility; experiment; incentive; economics (search for similar items in EconPapers)
JEL-codes: C1 C9 C91 C93 D8 D81 (search for similar items in EconPapers)
Date: 2023-04-26
New Economics Papers: this item is included in nep-des, nep-exp and nep-upt
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:117157

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