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Forbidden zones for the expectation. New mathematical results for behavioral and social sciences

Alexander Harin

MPRA Paper from University Library of Munich, Germany

Abstract: A forbidden zones theorem, mathematical approach and model are proposed in the present article. In particular, the approach supposes that people decide as if there were some biases of the expectations of measurement data. The article is motivated by the need of a theoretical support for the practical analysis performed for the purposes of utility and prospect theories, behavioral economics, psychology, decision and social sciences. Possible general consequences and applications of the theorem and approach for a noise and biases of measurement data are preliminary considered as well.

Keywords: probability; variance; noise; bias; measurement; utility theory; prospect theory; behavioral economics; psychology; decision sciences; social sciences (search for similar items in EconPapers)
JEL-codes: C02 C1 D8 D81 (search for similar items in EconPapers)
Date: 2018-05-10
New Economics Papers: this item is included in nep-cbe and nep-upt
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