Different methods to define utility functions yield different results and engage different neural processes
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References listed on IDEAS
- 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.
- Loomes, Graham & Sugden, Robert, 1982. "Regret Theory: An Alternative Theory of Rational Choice under Uncertainty," Economic Journal, Royal Economic Society, vol. 92(368), pages 805-824, December.
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More about this item
KeywordsUtility function; neuroeconomics; error-related negativity; executive functions; cognitive electrophysiology; lottery; bisection;
NEP fieldsThis paper has been announced in the following NEP Reports:
- NEP-ALL-2009-06-03 (All new papers)
- NEP-EXP-2009-06-03 (Experimental Economics)
- NEP-NEU-2009-06-03 (Neuroeconomics)
- NEP-UPT-2009-06-03 (Utility Models & Prospect Theory)
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