Gains and losses: the same or different choices? A “non-ideal” economics approach
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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- ALLARD, Marie & BRONSARD, Camille & GOURIÉROUX, Christian, 2003.
Cahiers de recherche
04-2003, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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