Risky Curves
Subtitle: On the Empirical Failure of Expected Utility
Publisher: Taylor & Francis Group
Published: 2014
Language: eng
Number of pages: 140
ISBN-13: 9780415636100
Subjects: Risk; Utility theory; Decision making
Description: "For several decades, the orthodox economics approach to understanding choice under risk has been to assume that each individual person maximizes some sort of personal utility function defined over purchasing power. This new volume contests that even the best wisdom from the orthodox theory is inadequate, and proposes the return to a simpler sort of scientific theory of risky choice"--