Overview
The book develops a new model of individual choice under risk within the general framework of rank-dependent utility theory. The new approach captures simultaneously an optimistic attitude towards gambling and risk averse behavior. The model is then applied to some of the observed behavioral patterns contradicting the expected utility hypothesis.
- | Author: Clemens Puppe
- | Publisher: Springer
- | Publication Date: Jul 10, 1991
- | Number of Pages: 100 pages
- | Binding: Paperback or Softback
- | ISBN-10: 3540542477
- | ISBN-13: 9783540542476
