Asian Disease-type of Framing of Outcomes as an Historical Curiosity
This paper discusses the ways by which a certain type of behavioral deviation from expected utility theory has been handled by psychologists and economists. With respect to the historical background of decision theory in economics, it is argued that there are good reasons for more theoretical developments from this behavioral deviation.
|Date of creation:||Dec 2013|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.gredeg.cnrs.fr
More information through EDIRC
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.:
- D. Wade Hands, 2010. "Economics, psychology and the history of consumer choice theory," Cambridge Journal of Economics, Oxford University Press, vol. 34(4), pages 633-648.
- Enrico Diecidue & Ulrich Schmidt & Peter P. Wakker, 2004. "The Utility of Gambling Reconsidered," Journal of Risk and Uncertainty, Springer, vol. 29(3), pages 241-259, December.
- Floris Heukelom, 2011. "What to Conclude from Psychological Experiments: The Contrasting Cases of Experimental and Behavioral Economics," History of Political Economy, Duke University Press, vol. 43(4), pages 649-681, Winter.
- Milton Friedman & L. J. Savage, 1948. "The Utility Analysis of Choices Involving Risk," Journal of Political Economy, University of Chicago Press, vol. 56, pages 279.
- Sacha Bourgeois-Gironde & Raphaël Giraud, 2009.
"Framing effects as violations of extensionality,"
Theory and Decision,
Springer, vol. 67(4), pages 385-404, October.
- Nicholas C. Barberis, 2013. "Thirty Years of Prospect Theory in Economics: A Review and Assessment," Journal of Economic Perspectives, American Economic Association, vol. 27(1), pages 173-96, Winter.
- Peter Fishburn & Peter Wakker, 1995. "The Invention of the Independence Condition for Preferences," Management Science, INFORMS, vol. 41(7), pages 1130-1144, July.
- Milton Friedman & L. J. Savage, 1952. "The Expected-Utility Hypothesis and the Measurability of Utility," Journal of Political Economy, University of Chicago Press, vol. 60, pages 463.
- Steven D. Levitt & John A. List, 2007. "What Do Laboratory Experiments Measuring Social Preferences Reveal About the Real World?," Journal of Economic Perspectives, American Economic Association, vol. 21(2), pages 153-174, Spring.
- Tversky, Amos & Kahneman, Daniel, 1992. " Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
- repec:cai:recosp:reco_p1990_41n6_0979 is not listed on IDEAS
- Chris Starmer, 2005. "Normative notions in descriptive dialogues," Journal of Economic Methodology, Taylor & Francis Journals, vol. 12(2), pages 277-289.
- Esther-Mirjam Sent, 2004. "Behavioral Economics: How Psychology Made Its (Limited) Way Back Into Economics," History of Political Economy, Duke University Press, vol. 36(4), pages 735-760, Winter.
- Chris Starmer, 2000. "Developments in Non-expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk," Journal of Economic Literature, American Economic Association, vol. 38(2), pages 332-382, June.
- Peter C. Fishburn, 1989. "Foundations of Decision Analysis: Along the Way," Management Science, INFORMS, vol. 35(4), pages 387-405, April.
- D. Wade Hands, 2011. "Back To The Ordinalist Revolution: Behavioral Economic Concerns In Early Modern Consumer Choice Theory," Metroeconomica, Wiley Blackwell, vol. 62(2), pages 386-410, 05.
- Matthew Rabin, 2003.
"A Perspective on Psychology and Economics,"
General Economics and Teaching
- Rabin, Matthew, 2002. "A Perspective on Psychology and Economics," Department of Economics, Working Paper Series qt2wr3z049, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Rabin, Mathew, 2002. "A Perspective on Psychology and Economics," Department of Economics, Working Paper Series qt4z78n1r9, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Dorian Jullien & Nicolas Vallois, 2012. "A Probabilistic Ghost in the Experimental Machine," GREDEG Working Papers 2012-05, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis.
- Samuelson, William & Zeckhauser, Richard, 1988. " Status Quo Bias in Decision Making," Journal of Risk and Uncertainty, Springer, vol. 1(1), pages 7-59, March.
- Johnson, Eric J, et al, 1993. " Framing, Probability Distortions, and Insurance Decisions," Journal of Risk and Uncertainty, Springer, vol. 7(1), pages 35-51, August.
- Floris Heukelom, 2012. "Three explanations for the Kahneman-Tversky Programme of the 1970s," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 19(5), pages 797-828, October.
- Matthew Rabin., 1997.
"Psychology and Economics,"
Economics Working Papers
97-251, University of California at Berkeley.
- Raphaël Giraud, 2004. "Framing under risk : Endogenizing the Reference Point and Separating Cognition and Decision," Cahiers de la Maison des Sciences Economiques bla04090, Université Panthéon-Sorbonne (Paris 1).
- Mongin, Philippe, 2013. "Le Paradoxe d'Allais: Comment lui rendre sa signification perdue? (Allais's Paradox: How to Give It Back Its Lost Meaning?)," Les Cahiers de Recherche 1021, HEC Paris.
- Harry Markowitz, 1952. "Portfolio Selection," Journal of Finance, American Finance Association, vol. 7(1), pages 77-91, 03.
- Richard H. Thaler, 2000. "From Homo Economicus to Homo Sapiens," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 133-141, Winter.
- Philippe Mongin, 2003.
"L'axiomatisation et les théories économiques,"
Presses de Sciences-Po, vol. 54(1), pages 99-138.
- David Schmeidler, 1989.
"Subjective Probability and Expected Utility without Additivity,"
Levine's Working Paper Archive
7662, David K. Levine.
- Schmeidler, David, 1989. "Subjective Probability and Expected Utility without Additivity," Econometrica, Econometric Society, vol. 57(3), pages 571-87, May.
- Siakantaris, Nikos, 2000. "Experimental Economics under the Microscope," Cambridge Journal of Economics, Oxford University Press, vol. 24(3), pages 267-81, May.
- Bertrand Munier, 1984. "Quelques critiques de la rationalité économique dans l'incertain," Revue Économique, Programme National Persée, vol. 35(1), pages 65-86.
- Matthias Klaes, 2006. "Rationality and its bounds: Re-framing social framing," SCEME Working Papers: Advances in Economic Methodology 012/2006, SCEME.
- Quiggin, John, 1982. "A theory of anticipated utility," Journal of Economic Behavior & Organization, Elsevier, vol. 3(4), pages 323-343, December.
- Broome, John, 1990. "Bolker-Jeffrey Expected Utility Theory and Axiomatic Utilitarianism," Review of Economic Studies, Wiley Blackwell, vol. 57(3), pages 477-502, July.
When requesting a correction, please mention this item's handle: RePEc:gre:wpaper:2013-47. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Patrice Bougette)
If references are entirely missing, you can add them using this form.