Risky Curves: On the Empirical Failure of Expected Utility

by Daniel Friedman (Author), Duncan James (Author), R.MarkIsaac (Author), ShyamSunder (Author)

• New

  Hardcover
  2014

  $153.58

  For several decades, the orthodox economics approach to understanding choice under risk has been to assume that each individual person maximizes some sort of personal utility function defined over purchasing power. This new volume contests that even the best wisdom from the orthodox theory is inadequate, and proposes the return to a simpler sort of scientific theory of risky choice --