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Data Dispersion in Economics (I) - Possibility of Restrictions

Author

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  • Alexander Harin

    () (Modern University for the Humanities)

Abstract

The article is devoted to data dispersion in economics. The state of the art and the problems of the utility theory are briefly reviewed. Examples of typical paradoxes, which are analyzed by the utility theory, are given. Analogous paradoxes may concern problems such as the underweighting of high and the overweighting of low probabilities, risk aversion, the equity premium puzzle, etc. Introductory examples of the restrictions near the boundaries of finite numerical segments and of the probability scale are considered and analyzed.

Suggested Citation

  • Alexander Harin, 2012. "Data Dispersion in Economics (I) - Possibility of Restrictions," Review of Economics & Finance, Better Advances Press, Canada, vol. 2, pages 59-70, August.
  • Handle: RePEc:bap:journl:120305
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    File URL: http://www.bapress.ca/ref/ref-2012-3/1923-7529-2012-03-59-70.pdf
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    Citations

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    Cited by:

    1. Alexander Harin, 2013. "Data dispersion near the boundaries: can it partially explain the problems of decision and utility theories?," Working Papers hal-00851022, HAL.
    2. Harin, Alexander, 2017. "About the minimal magnitudes of measurement’s forbidden zones. Version 1," MPRA Paper 78796, University Library of Munich, Germany.
    3. Harin, Alexander, 2017. "Behavioral economics and auto-images of distributions of random variables," MPRA Paper 83025, University Library of Munich, Germany.
    4. Harin, Alexander, 2015. "“Luce problem” and discontinuity of Prelec’s function at p = 1," MPRA Paper 63672, University Library of Munich, Germany.
    5. Harin, Alexander, 2014. "Is data interpretation in utility and prospect theories unquestionably correct?," MPRA Paper 53880, University Library of Munich, Germany.
    6. Harin, Alexander, 2017. "Some estimations of the minimal magnitudes of forbidden zones in experimental data," MPRA Paper 80319, University Library of Munich, Germany.
    7. Harin, Alexander, 2014. "General correcting formulae for forecasts," MPRA Paper 55283, University Library of Munich, Germany.

    More about this item

    Keywords

    Economics; Utility; Probability; Uncertainty; Decisions; Restrictions;

    JEL classification:

    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies

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