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Author : Simon Grant
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (318 download)
Download or read book Weakening the Sure-thing Principle written by Simon Grant and published by . This book was released on 1997 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Soo Hong Chew
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (318 download)
Download or read book The Comonotonic Sure-thing Principle written by Soo Hong Chew and published by . This book was released on 1995 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Soo Hong Chew
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (263 download)
Download or read book Generalizing Choquet Expected Utility by Weakening Savage's Sure-thing Principle written by Soo Hong Chew and published by . This book was released on 1991 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Paul Bourgine
Publisher : Springer Science & Business Media
ISBN 13 : 3540247084
Total Pages : 479 pages
Book Rating : 4.5/5 (42 download)
Download or read book Cognitive Economics written by Paul Bourgine and published by Springer Science & Business Media. This book was released on 2013-03-20 with total page 479 pages. Available in PDF, EPUB and Kindle. Book excerpt: The social sciences study knowing subjects and their interactions. A "cog nitive turn", based on cognitive science, has the potential to enrich these sciences considerably. Cognitive economics belongs within this movement of the social sciences. It aims to take into account the cognitive processes of individuals in economic theory, both on the level of the agent and on the level of their dynamic interactions and the resulting collective phenomena. This is an ambitious research programme that aims to link two levels of com plexity: the level of cognitive phenomena as studied and tested by cognitive science, and the level of collective phenomena produced by the economic in teractions between agents. Such an objective requires cooperation, not only between economists and cognitive scientists but also with mathematicians, physicists and computer scientists, in order to renew, study and simulate models of dynamical systems involving economic agents and their cognitive mechanisms. The hard core of classical economics is the General Equilibrium Theory, based on the optimising rationality of the agent and on static concepts of equilibrium, following a point of view systemised in the framework of Game Theory. The agent is considered "rational" if everything takes place as if he was maximising a function representing his preferences, his utility function.
Author : R. Arena
Publisher : Edward Elgar Publishing
ISBN 13 : 1847201539
Total Pages : 289 pages
Book Rating : 4.8/5 (472 download)
Download or read book Knowledge, Beliefs and Economics written by R. Arena and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: The contributors to this book also suggest the need for a more integrated perspective on the meaning, as well as the role, of knowledge and beliefs in economics in the future. Possible lines of future research such as the extension of the concept of rationality in economics or the focus on cognitive processes in economic action are discussed.
Author : Salvador Barbera
Publisher : Springer Science & Business Media
ISBN 13 : 1402079648
Total Pages : 636 pages
Book Rating : 4.4/5 (2 download)
Download or read book Handbook of Utility Theory written by Salvador Barbera and published by Springer Science & Business Media. This book was released on 2004-03-31 with total page 636 pages. Available in PDF, EPUB and Kindle. Book excerpt: The standard rationality hypothesis is that behaviour can be represented as the maximization of a suitably restricted utility function. This hypothesis lies at the heart of a large body of recent work in economics, of course, but also in political science, ethics, and other major branches of the social sciences. Though this hypothesis of utility maximization deserves our continued respect, finding further refinements and developing new critiques remain areas of active research. In fact, many fundamental conceptual problems remain unsettled. Where others have been resolved, their resolutions may be too recent to have achieved widespread understanding among social scientists. Last but not least, a growing number of papers attempt to challenge the rationality hypothesis head on, at least in its more orthodox formulation. The main purpose of this Handbook is to make more widely available some recent developments in the area. Yet we are well aware that the final chapter of a handbook like this can never be written as long as the area of research remains active, as is certainly the case with utility theory. The editors originally selected a list of topics that seemed ripe enough at the time that the book was planned. Then they invited contributions from researchers whose work had come to their attention. So the list of topics and contributors is largely the editors' responsibility, although some potential con tributors did decline our invitation. Each chapter has also been refereed, and often significantly revised in the light of the referees' remarks.
Author : Itzhak Gilboa
Publisher : Psychology Press
ISBN 13 : 9780415324946
Total Pages : 584 pages
Book Rating : 4.3/5 (249 download)
Download or read book Uncertainty in Economic Theory written by Itzhak Gilboa and published by Psychology Press. This book was released on 2004 with total page 584 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This is the first collection to include chapters on this topic, and it can thus serve as an introduction to researchers who are new to the field as well as a graduate course textbook. With this goal in mind, the book contains survey introductions that are aimed at a graduate level student, and help explain the main ideas, and put them in perspective."--BOOK JACKET.
Author : Ulrich Schmidt
Publisher : Springer Science & Business Media
ISBN 13 : 3642588778
Total Pages : 216 pages
Book Rating : 4.6/5 (425 download)
Download or read book Axiomatic Utility Theory under Risk written by Ulrich Schmidt and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first attempts to develop a utility theory for choice situations under risk were undertaken by Cramer (1728) and Bernoulli (1738). Considering the famous St. Petersburg Paradox! - a lottery with an infinite expected monetary value -Bernoulli (1738, p. 209) observed that most people would not spend a significant amount of money to engage in that gamble. To account for this observation, Bernoulli (1738, pp. 199-201) proposed that the expected monetary value has to be replaced by the expected utility ("moral expectation") as the relevant criterion for decision making under risk. However, Bernoulli's 2 argument and particularly his choice of a logarithmic utility function seem to be rather arbitrary since they are based entirely on intuitively 3 appealing examples. Not until two centuries later, did von Neumann and Morgenstern (1947) prove that if the preferences of the decision maker satisfy cer tain assumptions they can be represented by the expected value of a real-valued utility function defined on the set of consequences. Despite the identical mathematical form of expected utility, the theory of von Neumann and Morgenstern and Bernoulli's approach have, however, IFor comprehensive discussions of this paradox cf. Menger (1934), Samuelson (1960), (1977), Shapley (1977a), Aumann (1977), Jorland (1987), and Zabell (1987). 2Cramer (1728, p. 212), on the other hand, proposed that the utility of an amount of money is given by the square root of this amount.
Author : Denis Bouyssou
Publisher : John Wiley & Sons
ISBN 13 : 1118619528
Total Pages : 671 pages
Book Rating : 4.1/5 (186 download)
Download or read book Decision Making Process written by Denis Bouyssou and published by John Wiley & Sons. This book was released on 2013-05-10 with total page 671 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an overview of the main methods and results in the formal study of the human decision-making process, as defined in a relatively wide sense. A key aim of the approach contained here is to try to break down barriers between various disciplines encompassed by this field, including psychology, economics and computer science. All these approaches have contributed to progress in this very important and much-studied topic in the past, but none have proved sufficient so far to define a complete understanding of the highly complex processes and outcomes. This book provides the reader with state-of-the-art coverage of the field, essentially forming a roadmap to the field of decision analysis. The first part of the book is devoted to basic concepts and techniques for representing and solving decision problems, ranging from operational research to artificial intelligence. Later chapters provide an extensive overview of the decision-making process under conditions of risk and uncertainty. Finally, there are chapters covering various approaches to multi-criteria decision-making. Each chapter is written by experts in the topic concerned, and contains an extensive bibliography for further reading and reference.
Author : Isaac Levi
Publisher : Cambridge University Press
ISBN 13 : 9780521386302
Total Pages : 266 pages
Book Rating : 4.3/5 (863 download)
Download or read book Hard Choices written by Isaac Levi and published by Cambridge University Press. This book was released on 1990-04-27 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores the consequences of denying the assumption and develops a general approach to decision-making under unresolved conflict.
Author : S. K. Neogy
Publisher : World Scientific
ISBN 13 : 9812813217
Total Pages : 498 pages
Book Rating : 4.8/5 (128 download)
Download or read book Mathematical Programming and Game Theory for Decision Making written by S. K. Neogy and published by World Scientific. This book was released on 2008 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: This edited book presents recent developments and state-of-the-art review in various areas of mathematical programming and game theory. It is a peer-reviewed research monograph under the ISI Platinum Jubilee Series on Statistical Science and Interdisciplinary Research. This volume provides a panoramic view of theory and the applications of the methods of mathematical programming to problems in statistics, finance, games and electrical networks. It also provides an important as well as timely overview of research trends and focuses on the exciting areas like support vector machines, bilevel programming, interior point method for convex quadratic programming, cooperative games, non-cooperative games and stochastic games. Researchers, professionals and advanced graduates will find the book an essential resource for current work in mathematical programming, game theory and their applications.
Author :
Publisher : IOS Press
ISBN 13 :
Total Pages : 7289 pages
Book Rating : 4./5 ( download)
Download or read book written by and published by IOS Press. This book was released on with total page 7289 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mark Machina
Publisher : Newnes
ISBN 13 : 0444536868
Total Pages : 897 pages
Book Rating : 4.4/5 (445 download)
Download or read book Handbook of the Economics of Risk and Uncertainty written by Mark Machina and published by Newnes. This book was released on 2013-11-14 with total page 897 pages. Available in PDF, EPUB and Kindle. Book excerpt: The need to understand the theories and applications of economic and finance risk has been clear to everyone since the financial crisis, and this collection of original essays proffers broad, high-level explanations of risk and uncertainty. The economics of risk and uncertainty is unlike most branches of economics in spanning from the individual decision-maker to the market (and indeed, social decisions), and ranging from purely theoretical analysis through individual experimentation, empirical analysis, and applied and policy decisions. It also has close and sometimes conflicting relationships with theoretical and applied statistics, and psychology. The aim of this volume is to provide an overview of diverse aspects of this field, ranging from classical and foundational work through current developments. - Presents coherent summaries of risk and uncertainty that inform major areas in economics and finance - Divides coverage between theoretical, empirical, and experimental findings - Makes the economics of risk and uncertainty accessible to scholars in fields outside economics
Author : John Broome
Publisher : John Wiley & Sons
ISBN 13 : 111945123X
Total Pages : 272 pages
Book Rating : 4.1/5 (194 download)
Download or read book Weighing Goods written by John Broome and published by John Wiley & Sons. This book was released on 2017-07-05 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study uses techniques from economics to illuminate fundamental questions in ethics, particularly in the foundations of utilitarianism. Topics considered include the nature of teleological ethics, the foundations of decision theory, the value of equality and the moral significance of a person's continuing identity through time.
Author : Matthew D. Adler
Publisher : Oxford University Press
ISBN 13 : 0199325820
Total Pages : 985 pages
Book Rating : 4.1/5 (993 download)
Download or read book The Oxford Handbook of Well-Being and Public Policy written by Matthew D. Adler and published by Oxford University Press. This book was released on 2016-04-21 with total page 985 pages. Available in PDF, EPUB and Kindle. Book excerpt: What are the methodologies for assessing and improving governmental policy in light of well-being? The Oxford Handbook of Well-Being and Public Policy provides a comprehensive, interdisciplinary treatment of this topic. The contributors draw from welfare economics, moral philosophy, and psychology and are leading scholars in these fields. The Handbook includes thirty chapters divided into four Parts. Part I covers the full range of methodologies for evaluating governmental policy and assessing societal condition-including both the leading approaches in current use by policymakers and academics (such as GDP, cost-benefit analysis, cost-effectiveness analysis, inequality and poverty metrics, and the concept of the "social welfare function"), and emerging techniques. Part II focuses on the nature of well-being. What, most fundamentally, determines whether an individual life is better or worse for the person living it? Her happiness? Her preference-satisfaction? Her attainment of various "objective goods"? Part III addresses the measurement of well-being and the thorny topic of interpersonal comparisons. How can we construct a meaningful scale of individual welfare, which allows for comparisons of well-being levels and differences, both within one individual's life, and across lives? Finally, Part IV reviews the major challenges to designing governmental policy around individual well-being.
Author : Gerhard Brewka
Publisher : IOS Press
ISBN 13 : 9781586036423
Total Pages : 896 pages
Book Rating : 4.0/5 (364 download)
Download or read book ECAI 2006 written by Gerhard Brewka and published by IOS Press. This book was released on 2006 with total page 896 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Omar Hamouda
Publisher : Routledge
ISBN 13 : 1135084750
Total Pages : 195 pages
Book Rating : 4.1/5 (35 download)
Download or read book Probability in Economics written by Omar Hamouda and published by Routledge. This book was released on 2013-04-15 with total page 195 pages. Available in PDF, EPUB and Kindle. Book excerpt: Notions of probability and uncertainty have been increasingly prominant in modern economics. This book considers the philosophical and practical difficulties inherent in integrating these concepts into realistic economic situations. It outlines and evaluates the major developments, indicating where further work is needed. This book addresses: * probability, utility and rationality within current economic thought and practice * concepts of ignorance and indeterminancy * experimental economics * econometrics, with particular reference inference and estimation.
