Expected utility paradoxes
The expected utility (EU) model is widely used for predicting and describing choices under uncertainty. Its usefulness, however, is limited because of its widely acknowledged inconsistencies and paradoxes. This paper describes how important EU model paradoxes can be resolved by accounting for the influences of socio-emotional goods (SEGs) embedded in word and other symbolic frames.
Volume (Year): 39 (2010)
Issue (Month): 2 (April)
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References listed on IDEAS
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