Balancing Risk and Reward: How Subjects Value Information in a Discrete-Time Experiment
Produktnummer:
181ddb7236461344f69494cfab41f6d633
| Autor: | Shiva |
|---|---|
| Themengebiete: | Discrete-Choice Framing Effects Prospect Theory Risk Aversion Risk Seeking Subject Pool Time Discounting Utility Theory intertemporal loss aversion |
| Veröffentlichungsdatum: | 02.07.2024 |
| EAN: | 9783384276919 |
| Sprache: | Englisch |
| Seitenzahl: | 110 |
| Produktart: | Kartoniert / Broschiert |
| Verlag: | tredition |
Produktinformationen "Balancing Risk and Reward: How Subjects Value Information in a Discrete-Time Experiment"
Expected Utility Theory (EUT): This framework assumes individuals choose actions that maximize their expected utility. Information can be valuable because it reduces uncertainty about future outcomes, allowing for more informed decisions and potentially higher utility [1]. Prospect Theory: This theory builds upon EUT, recognizing that individuals exhibit loss aversion and a preference for avoiding losses over acquiring gains of equal value [2]. Information can be even more valuable in situations where it helps avoid potential losses. Bounded Rationality: This concept acknowledges that individuals have limited cognitive resources and may not always make perfectly rational decisions. Information can be valuable because it simplifies complex choices and reduces the cognitive effort required to make optimal decisions
Sie möchten lieber vor Ort einkaufen?
Sie haben Fragen zu diesem oder anderen Produkten oder möchten einfach gerne analog im Laden stöbern? Wir sind gerne für Sie da und beraten Sie auch telefonisch.
Juristische Fachbuchhandlung
Georg Blendl
Parcellistraße 5 (Maxburg)
8033 München
Montag - Freitag: 8:15 -18 Uhr
Samstags geschlossen