Multiattribute Utility Theory, Intertemporal Utility, and Correlation Aversion

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ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)

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Book Synopsis Multiattribute Utility Theory, Intertemporal Utility, and Correlation Aversion by : Steffen Andersen

Download or read book Multiattribute Utility Theory, Intertemporal Utility, and Correlation Aversion written by Steffen Andersen and published by . This book was released on 2020 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Convenient assumptions about qualitative properties of the intertemporal utility function have generated counterintuitive implications for the relationship between atemporal risk aversion and the intertemporal elasticity of substitution. If the intertemporal utility function is additively separable, then the latter two concepts are the inverse of each other. We review a theoretical specification with a long lineage in the literature on multi-attribute utility and use this theoretical structure to guide the design of a series of experiments that allow us to identify and estimate intertemporal correlation aversion. Our results show that subjects are correlation averse over lotteries with intertemporal income profiles.

Foundations of Multiattribute Utility

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Publisher : Cambridge University Press
ISBN 13 : 1108547583
Total Pages : 703 pages
Book Rating : 4.1/5 (85 download)

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Book Synopsis Foundations of Multiattribute Utility by : Ali E. Abbas

Download or read book Foundations of Multiattribute Utility written by Ali E. Abbas and published by Cambridge University Press. This book was released on 2018-06-28 with total page 703 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many of the complex problems faced by decision makers involve uncertainty as well as multiple conflicting objectives. This book provides a complete understanding of the types of objective functions that should be used in multiattribute decision making. By using tools such as preference, value, and utility functions, readers will learn state-of-the-art methods to analyze prospects to guide decision making and will develop a process that guarantees a defensible analysis to rationalize choices. Summarizing and distilling classical techniques and providing extensive coverage of recent advances in the field, the author offers practical guidance on how to make good decisions in the face of uncertainty. This text will appeal to graduate students and practitioners alike in systems engineering, operations research, business, management, government, climate change, energy, and healthcare.

Relevance and Application of Multiattribute Utility Theory and Risk Aversion Analysis to Participatory Group Decision Making

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ISBN 13 :
Total Pages : 386 pages
Book Rating : 4.3/5 (129 download)

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Book Synopsis Relevance and Application of Multiattribute Utility Theory and Risk Aversion Analysis to Participatory Group Decision Making by : Altan Cöner

Download or read book Relevance and Application of Multiattribute Utility Theory and Risk Aversion Analysis to Participatory Group Decision Making written by Altan Cöner and published by . This book was released on 1978 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Modern Guide to Philosophy of Economics

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Publisher : Edward Elgar Publishing
ISBN 13 : 1788974468
Total Pages : 384 pages
Book Rating : 4.7/5 (889 download)

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Book Synopsis A Modern Guide to Philosophy of Economics by : Kincaid, Harold

Download or read book A Modern Guide to Philosophy of Economics written by Kincaid, Harold and published by Edward Elgar Publishing. This book was released on 2021-08-27 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt: This insightful Modern Guide offers a broad coverage of questions and controversies encountered by contemporary economists. A refreshing approach to philosophy of economics, chapters comprise a range of methodological and theoretical perspectives, from lab and field experiments to macroeconomics and applied policy work, written using a familiar, accessible language for economists.

Multiattribute Utility and Intertemporal Choices

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Publisher :
ISBN 13 :
Total Pages : 18 pages
Book Rating : 4.:/5 (933 download)

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Book Synopsis Multiattribute Utility and Intertemporal Choices by :

Download or read book Multiattribute Utility and Intertemporal Choices written by and published by . This book was released on 2001 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Models of Risk Preferences

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Publisher : Emerald Group Publishing
ISBN 13 : 1837972702
Total Pages : 291 pages
Book Rating : 4.8/5 (379 download)

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Book Synopsis Models of Risk Preferences by : Glenn W. Harrison

Download or read book Models of Risk Preferences written by Glenn W. Harrison and published by Emerald Group Publishing. This book was released on 2023-10-23 with total page 291 pages. Available in PDF, EPUB and Kindle. Book excerpt: Models of Risk Preferences collects studies that critically review alternatives to Expected Utility Theory from the perspective of experimental economics.

Handbook of Choice Modelling

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Publisher : Edward Elgar Publishing
ISBN 13 : 1781003157
Total Pages : 721 pages
Book Rating : 4.7/5 (81 download)

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Book Synopsis Handbook of Choice Modelling by : Stephane Hess

Download or read book Handbook of Choice Modelling written by Stephane Hess and published by Edward Elgar Publishing. This book was released on 2014-08-29 with total page 721 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Handbook of Choice Modelling, composed of contributions from senior figures in the field, summarizes the essential analytical techniques and discusses the key current research issues. The book opens with Nobel Laureate Daniel McFadden calling for d

Contemporary Philosophy and Social Science

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Publisher : Bloomsbury Publishing
ISBN 13 : 1474248772
Total Pages : 408 pages
Book Rating : 4.4/5 (742 download)

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Book Synopsis Contemporary Philosophy and Social Science by : Michiru Nagatsu

Download or read book Contemporary Philosophy and Social Science written by Michiru Nagatsu and published by Bloomsbury Publishing. This book was released on 2019-05-30 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: How should we theorize about the social world? How can we integrate theories, models and approaches from seemingly incompatible disciplines? Does theory affect social reality? This state-of-the-art collection addresses contemporary methodological questions and interdisciplinary developments in the philosophy of social science. Facilitating a mutually enriching dialogue, chapters by leading social scientists are followed by critical evaluations from philosophers of social science. This exchange showcases recent major theoretical and methodological breakthroughs and challenges in the social sciences, as well as fruitful ways in which the analytic tools developed in philosophy of science can be applied to understand these advancements. The volume covers a diverse range of principles, methods, innovations and applications, including scientific and methodological pluralism, performativity of theories, causal inferences and applications of social science to policy and business. Taking a practice-orientated and interactive approach, it offers a new philosophy of social science grounded in and relevant to the emerging social science practice.

Handbook of the Fundamentals of Financial Decision Making

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Publisher : World Scientific
ISBN 13 : 9814417351
Total Pages : 941 pages
Book Rating : 4.8/5 (144 download)

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Book Synopsis Handbook of the Fundamentals of Financial Decision Making by : Leonard C. MacLean

Download or read book Handbook of the Fundamentals of Financial Decision Making written by Leonard C. MacLean and published by World Scientific. This book was released on 2013 with total page 941 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook in two parts covers key topics of the theory of financial decision making. Some of the papers discuss real applications or case studies as well. There are a number of new papers that have never been published before especially in Part II.Part I is concerned with Decision Making Under Uncertainty. This includes subsections on Arbitrage, Utility Theory, Risk Aversion and Static Portfolio Theory, and Stochastic Dominance. Part II is concerned with Dynamic Modeling that is the transition for static decision making to multiperiod decision making. The analysis starts with Risk Measures and then discusses Dynamic Portfolio Theory, Tactical Asset Allocation and Asset-Liability Management Using Utility and Goal Based Consumption-Investment Decision Models.A comprehensive set of problems both computational and review and mind expanding with many unsolved problems are in an accompanying problems book. The handbook plus the book of problems form a very strong set of materials for PhD and Masters courses both as the main or as supplementary text in finance theory, financial decision making and portfolio theory. For researchers, it is a valuable resource being an up to date treatment of topics in the classic books on these topics by Johnathan Ingersoll in 1988, and William Ziemba and Raymond Vickson in 1975 (updated 2 nd edition published in 2006).

Neuroeconomics

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Publisher : Academic Press
ISBN 13 : 0123914698
Total Pages : 606 pages
Book Rating : 4.1/5 (239 download)

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Book Synopsis Neuroeconomics by : Paul W. Glimcher

Download or read book Neuroeconomics written by Paul W. Glimcher and published by Academic Press. This book was released on 2013-08-13 with total page 606 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the years since it first published, Neuroeconomics: Decision Making and the Brain has become the standard reference and textbook in the burgeoning field of neuroeconomics. The second edition, a nearly complete revision of this landmark book, will set a new standard. This new edition features five sections designed to serve as both classroom-friendly introductions to each of the major subareas in neuroeconomics, and as advanced synopses of all that has been accomplished in the last two decades in this rapidly expanding academic discipline. The first of these sections provides useful introductions to the disciplines of microeconomics, the psychology of judgment and decision, computational neuroscience, and anthropology for scholars and students seeking interdisciplinary breadth. The second section provides an overview of how human and animal preferences are represented in the mammalian nervous systems. Chapters on risk, time preferences, social preferences, emotion, pharmacology, and common neural currencies—each written by leading experts—lay out the foundations of neuroeconomic thought. The third section contains both overview and in-depth chapters on the fundamentals of reinforcement learning, value learning, and value representation. The fourth section, "The Neural Mechanisms for Choice, integrates what is known about the decision-making architecture into state-of-the-art models of how we make choices. The final section embeds these mechanisms in a larger social context, showing how these mechanisms function during social decision-making in both humans and animals. The book provides a historically rich exposition in each of its chapters and emphasizes both the accomplishments and the controversies in the field. A clear explanatory style and a single expository voice characterize all chapters, making core issues in economics, psychology, and neuroscience accessible to scholars from all disciplines. The volume is essential reading for anyone interested in neuroeconomics in particular or decision making in general. - Editors and contributing authors are among the acknowledged experts and founders in the field, making this the authoritative reference for neuroeconomics - Suitable as an advanced undergraduate or graduate textbook as well as a thorough reference for active researchers - Introductory chapters on economics, psychology, neuroscience, and anthropology provide students and scholars from any discipline with the keys to understanding this interdisciplinary field - Detailed chapters on subjects that include reinforcement learning, risk, inter-temporal choice, drift-diffusion models, game theory, and prospect theory make this an invaluable reference - Published in association with the Society for Neuroeconomics—www.neuroeconomics.org - Full-color presentation throughout with numerous carefully selected illustrations to highlight key concepts

Risk Aversion in Experiments

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Publisher : Emerald Group Publishing
ISBN 13 : 0762313846
Total Pages : 449 pages
Book Rating : 4.7/5 (623 download)

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Book Synopsis Risk Aversion in Experiments by : G.W. Harrison

Download or read book Risk Aversion in Experiments written by G.W. Harrison and published by Emerald Group Publishing. This book was released on 2008-02-29 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents research utilizing laboratory experimental methods in economics.

Theory and Practice in Policy Analysis

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Publisher : Cambridge University Press
ISBN 13 : 1316886999
Total Pages : 608 pages
Book Rating : 4.3/5 (168 download)

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Book Synopsis Theory and Practice in Policy Analysis by : M. Granger Morgan

Download or read book Theory and Practice in Policy Analysis written by M. Granger Morgan and published by Cambridge University Press. This book was released on 2017-10-12 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many books instruct readers on how to use the tools of policy analysis. This book is different. Its primary focus is on helping readers to look critically at the strengths, limitations, and the underlying assumptions analysts make when they use standard tools or problem framings. Using examples, many of which involve issues in science and technology, the book exposes readers to some of the critical issues of taste, professional responsibility, ethics, and values that are associated with policy analysis and research. Topics covered include policy problems formulated in terms of utility maximization such as benefit-cost, decision, and multi-attribute analysis, issues in the valuation of intangibles, uncertainty in policy analysis, selected topics in risk analysis and communication, limitations and alternatives to the paradigm of utility maximization, issues in behavioral decision theory, issues related to organizations and multiple agents, and selected topics in policy advice and policy analysis for government.

Prospect Theory

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Publisher : Cambridge University Press
ISBN 13 : 1139489100
Total Pages : 519 pages
Book Rating : 4.1/5 (394 download)

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Book Synopsis Prospect Theory by : Peter P. Wakker

Download or read book Prospect Theory written by Peter P. Wakker and published by Cambridge University Press. This book was released on 2010-07-22 with total page 519 pages. Available in PDF, EPUB and Kindle. Book excerpt: Prospect Theory: For Risk and Ambiguity, provides a comprehensive and accessible textbook treatment of the way decisions are made both when we have the statistical probabilities associated with uncertain future events (risk) and when we lack them (ambiguity). The book presents models, primarily prospect theory, that are both tractable and psychologically realistic. A method of presentation is chosen that makes the empirical meaning of each theoretical model completely transparent. Prospect theory has many applications in a wide variety of disciplines. The material in the book has been carefully organized to allow readers to select pathways through the book relevant to their own interests. With numerous exercises and worked examples, the book is ideally suited to the needs of students taking courses in decision theory in economics, mathematics, finance, psychology, management science, health, computer science, Bayesian statistics, and engineering.

The Wiley Blackwell Handbook of Judgment and Decision Making, 2 Volume Set

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Publisher : John Wiley & Sons
ISBN 13 : 1118468392
Total Pages : 1056 pages
Book Rating : 4.1/5 (184 download)

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Book Synopsis The Wiley Blackwell Handbook of Judgment and Decision Making, 2 Volume Set by : Gideon Keren

Download or read book The Wiley Blackwell Handbook of Judgment and Decision Making, 2 Volume Set written by Gideon Keren and published by John Wiley & Sons. This book was released on 2016-02-16 with total page 1056 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive, up-to-date examination of the most important theory, concepts, methodological approaches, and applications in the burgeoning field of judgment and decision making (JDM) Emphasizes the growth of JDM applications with chapters devoted to medical decision making, decision making and the law, consumer behavior, and more Addresses controversial topics from multiple perspectives – such as choice from description versus choice from experience – and contrasts between empirical methodologies employed in behavioral economics and psychology Brings together a multi-disciplinary group of contributors from across the social sciences, including psychology, economics, marketing, finance, public policy, sociology, and philosophy 2 Volumes

Economic Psychology

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Publisher : John Wiley & Sons
ISBN 13 : 1118926390
Total Pages : 651 pages
Book Rating : 4.1/5 (189 download)

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Book Synopsis Economic Psychology by : Rob Ranyard

Download or read book Economic Psychology written by Rob Ranyard and published by John Wiley & Sons. This book was released on 2017-06-22 with total page 651 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive overview of contemporary economic psychology Economic Psychology presents an accessible overview of contemporary economic psychology. The science of economic mental life and behavior is increasingly relevant as people are expected to take more responsibility for their household and personal economic decisions. The text will, in addition to reviewing current knowledge on each topic presented, consider the practical and policy implications for supporting economic decision making. Economic Psychology examines the central aspects of adult decision making in everyday life and includes the theories of economic decision making based on risk, value and affect, and theories of intertemporal choice. The text reviews the nature and behavioral consequences of economic mental representations about such things as material possessions, money and the economy. The editor Robert Ranyard—a noted expert on economic psychology—presents a life-span developmental approach, from childhood to old age. He also reviews the important societal issues such as charitable giving and economic sustainability. This vital resource: Reviews the economic psychology in everyday life including financial behaviour such as saving and tax-paying and matters such as entrepreneurial activity Offers an introduction to the field and traces the emergence of the discipline, from Adam Smith to George Katona and Herbert Simon Includes information on societal issues such as charitable giving and pro-environmental behaviour Considers broader perspectives on economic psychology: life-span psychological development from childhood to old age Written for students of psychology, Economic Psychology reviews the most important information on contemporary economic psychology with a focus on individual and household economic decision making, ranging widely across financial matters such as borrowing and saving, and economic activities such as buying, trading, and working.

Mathematical Reviews

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Publisher :
ISBN 13 :
Total Pages : 544 pages
Book Rating : 4.X/5 (1 download)

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Book Synopsis Mathematical Reviews by :

Download or read book Mathematical Reviews written by and published by . This book was released on 1985 with total page 544 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Neurobiology of Decision-Making

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Publisher : Springer Science & Business Media
ISBN 13 : 3642799280
Total Pages : 215 pages
Book Rating : 4.6/5 (427 download)

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Book Synopsis Neurobiology of Decision-Making by : Antonio R. Damasio

Download or read book Neurobiology of Decision-Making written by Antonio R. Damasio and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Neuroscience has paid only little attention to decision-making for many years. Although no field of science has cohered around this topic, a variety of researchers in different areas of neuroscience ranging from cellular physiology to neuropsychology and computational neuroscience have been engaged in working on this issue. Thus, the time seemed to be ripe to bring these researchers together and discuss the state of the art of the neurobiology of decision-making in a broad forum. This book is a collection of contributions presented at that forum in Paris in October 1994 organized by the Fondation IPSEN.