Alexander Harin (Ñîâðåìåííàÿ Ãóìàíèòàðíàÿ Àêàäåìèÿ)
Abstract
Ideal economics? A “non-ideal” economics approach has been proposed, which considers the possibility of arrangement infringements. It gives promises for both solving fundamental problems of economic theory and creation of new directions and fields of research. The approach application in relation to choosing between risky and guaranteed outcomes is discussed. The article demonstrates the approach is able to give the same results for both gains and losses, therefore it is able to be a universal one. The concept of the space of “Anything can happen” is introduced. The article gives examples of practical application of the approach in relation to bank deposits, investments, business projects and international activities such as Millennium Dome-like projects and Olympiad-like projects.
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Find related papers by JEL classification: C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies
References listed on IDEAS Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
ALLARD, Marie & BRONSARD, Camille & GOURIÉROUX Christian, 2003.
"Aversion Analysis,"
Cahiers de recherche
2003-06, Universite de Montreal, Departement de sciences economiques.
[Downloadable!]
Other versions:
ALLARD, Marie & BRONSARD, Camille & GOURIÉROUX, Christian, 2003.
"Aversion Analysis,"
Cahiers de recherche
04-2003, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
[Downloadable!]