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Handbook of the Economics of Risk and Uncertainty
book

Handbook of the Economics of Risk and Uncertainty

by Mark Machina, W. Kip Viscusi
November 2013
Beginner content levelBeginner
896 pages
35h 10m
English
North Holland
Content preview from Handbook of the Economics of Risk and Uncertainty
John D. Hey
814
It is interesting to note that, at that time, his methodology was not to assess theories in
their entirety, but theories in different parts of the evidence-space. In this respect it is
useful to quote Camerer’s conclusions: “The important empirical question is whether
any theory that generalizes EU can explain the violations. The results of our test and
other recent tests are decidedly mixed: Each theory can account for some of the viola-
tions, but not all.” This was at a time when his list of generalizations of SEU consisted
of Weighted Utility, Implicit Expected Utility, “The Fanning-out Hypothesis”, Lottery-
Dependent Utility ...
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Publisher Resources

ISBN: 9780444536853