dc.contributor.author | Aaberge, Rolf | |
dc.date.accessioned | 2011-11-16T18:20:42Z | |
dc.date.available | 2011-11-16T18:20:42Z | |
dc.date.issued | 2011 | |
dc.identifier.citation | Aaberge, R. (2011): "Empirical rules of thumb for choice under uncertainty", Theory and Decision, Vol.71, 3, 431-438, Springer | no_NO |
dc.identifier.issn | 1573-7187 | |
dc.identifier.uri | http://hdl.handle.net/11250/178026 | |
dc.description | The original publication is available at www.springer.com | no_NO |
dc.description.abstract | Abstract: A substantial body of empirical evidence shows that individuals overweight extreme events and act in conflict with the expected utility theory. These findings were the primary motivation behind the development of a rank-dependent utility theory for choice under uncertainty. The purpose of this paper is to demonstrate that some simple empirical rules of thumb for choice under uncertainty are consistent with the rank-dependent utility theory.
Keywords: rank-dependent utility, maximin, maximax, mid-range | no_NO |
dc.language.iso | eng | no_NO |
dc.publisher | Springer | no_NO |
dc.subject | Choice under uncertainty | no_NO |
dc.subject | Rank-dependent utility | no_NO |
dc.subject | JEL classification: D81 | no_NO |
dc.subject | Criteria for decision-making | no_NO |
dc.subject | Scientific article | no_NO |
dc.title | Empirical rules of thumb for choice under uncertainty | no_NO |
dc.type | Journal article | no_NO |
dc.type | Peer reviewed | no_NO |
dc.subject.nsi | VDP::Social science: 200::Economics: 210::Economics: 212 | no_NO |
dc.source.pagenumber | 431-438 | no_NO |
dc.source.volume | Vol. 71 | no_NO |
dc.source.journal | Theory and Decision | no_NO |
dc.source.issue | No. 3 | no_NO |
dc.identifier.doi | http://dx.doi.org/10.1007/s11238-010-9230-7 | |