Expected Utility Hypotheses And The Allais Paradox Contemporary Discussions Of Decisions Under Uncertainty With Allais Rejoinder
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Expected Utility Hypotheses And The Allais Paradox
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Author : M. Allais
language : en
Publisher: Springer Science & Business Media
Release Date : 2013-03-14
Expected Utility Hypotheses And The Allais Paradox written by M. Allais and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-03-14 with Social Science categories.
Utility theory or, value theory in general, is certainly the cornerstone of decision theory, game theory, microecon~mics, and all social and political theories which deal with public decisions. Recently the American School of utility, founded by von N eumann Morgenstern, encountered a far-going criticism by the French School of utility represented by its founder Allais. The whole basis of the theory of decisions involving risk has been shaken and put into question. Consequently, basic research in the fundamentals of utility and value theory evolved into a crisis. Like any crisis in basic research, and this one was not an exception, it was very fruitful. One may simply say: Allais versus von Neumann-Morgenstern, or the French School of utility versus the American School, became one of the battlefields of scientific development which proved to be a most creative source of new advances and new developments in all those sciences which are based on evaluation of utilities.
Expected Utility Hypotheses And The Allais Paradox
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Author : Maurice Allais
language : en
Publisher:
Release Date : 1979
Expected Utility Hypotheses And The Allais Paradox written by Maurice Allais and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with categories.
Expected Utility Hypotheses And The Allais Paradox
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Author : Centre national de la recherche scientifique (France)
language : en
Publisher:
Release Date : 1979
Expected Utility Hypotheses And The Allais Paradox written by Centre national de la recherche scientifique (France) and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1979 with Decision making categories.
Rationality In Action
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Author : Paul K. Moser
language : en
Publisher: Cambridge University Press
Release Date : 1990-10-26
Rationality In Action written by Paul K. Moser and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1990-10-26 with Education categories.
An anthology of previously published pieces that have proven long term importance to theoretical work in rational action.
Philosophical Lectures On Probability
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Author : Bruno de Finetti
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-05-01
Philosophical Lectures On Probability written by Bruno de Finetti and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-05-01 with Science categories.
Bruno de Finetti (1906–1985) is the founder of the subjective interpretation of probability, together with the British philosopher Frank Plumpton Ramsey. His related notion of “exchangeability” revolutionized the statistical methodology. This book (based on a course held in 1979) explains in a language accessible also to non-mathematicians the fundamental tenets and implications of subjectivism, according to which the probability of any well specified fact F refers to the degree of belief actually held by someone, on the ground of her whole knowledge, on the truth of the assertion that F obtains.
Global Disequilibrium In The World Economy
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Author : Mario Baldassarri
language : en
Publisher: Springer
Release Date : 2016-07-27
Global Disequilibrium In The World Economy written by Mario Baldassarri and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-27 with Business & Economics categories.
The US twin deficit, Western European economic integration, Eastern Europe's transition towards a market economy, the debt burden of the Less Developed Countries, the growing and deepening discrimination against the rest of the world by new homogeneous areas such as the North America free trade area, the new Europe, and Japan are the issues at the heart of global disequilibrium in the world economy. This book brings together leading economists to analyse these issues and further the debate on the need for sound economic policies to avoid a crash on a global scale.
The Knowledge Ahead Approach To Risk
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Author : Robin Pope
language : en
Publisher: Springer Science & Business Media
Release Date : 2006-11-23
The Knowledge Ahead Approach To Risk written by Robin Pope and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2006-11-23 with Business & Economics categories.
This book is written for those seeking a decision theory appropriate for use in serious choices such as insurance. It employs stages of knowledge ahead to track satisfactions and dissatisfactions. From experimental and questionnaire data, people take into account such stages of knowledge ahead satisfactions and dissatisfactions. This means we must go beyond standard decision theories like expected utility or cumulative prospect theory.
Theory And Decision
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Author : G. Eberlein
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Theory And Decision written by G. Eberlein and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Social Science categories.
This collection of articles contains contributions from a few of Werner Leinfellner's many friends and colleagues. Some of them are former students of Werner's. Others were colleagues of his at various American and European universities. Further, some have come to know Werner through his research, his long-standing editorship of Theory and Deci sion and his extensive participation in international conferences and congresses. The following articles are new to this volume. The areas covered are those in which Werner continues to play an active professional role. We offer them as a tribute to the many and multi-faceted contributions to the scientific enterprise for which Werner Leinfellner is so widely known. We believe such a festschrift to be fitting and long overdue. Because of the breadth of Werner's professional associations, it was difficult to select representatives from among his many spheres of influence. We apologize to the many scholars who could not be in cluded because of time and space considerations. Finally, we wish to express appreciation to Dean John Guilds of the University of Arkansas for providing financial support early on in the evolution of this project, to Jennifer Bauman for her bravura performance in copy-editing the manuscripts, and to our publisher at Reidel for bringing this volume to press.
Modern Social Contract Theory
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Author : Albert Weale
language : en
Publisher: Oxford University Press
Release Date : 2020-06-10
Modern Social Contract Theory written by Albert Weale and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-10 with Political Science categories.
Modern Social Contract Theory provides an exposition and evaluation of major work in social contract theory from 1950 to the present. It locates the central themes of that theory in the intellectual legacy of utilitarianism, particularly the problems of defining principles of justice and of showing the grounds of moral obligation. It demonstrates how theorists responded in a novel way to the dilemmas articulated in utilitarianism, developing in their different approaches a constructivist method in ethics, a method that aimed to vindicate a liberal, democratic and just political order. A distinctive feature of the book is its comparative approach. By placing the works of Barry, Buchanan and Tullock, Harsanyi, Gauthier, Grice, Rawls, and Scanlon alongside one another, similarities and differences are brought out, most notably in the way in which principles are derived by each author from the contractual construction as well as the extent to which the obligation to adopt those principles can be rationally grounded. Each theory is placed in its particular intellectual context. Special attention is paid to the contrasting theories of rationality adopted by the different authors, whether that be utility theory or a deliberative conception of rationality, with the intention of assessing how far the principles advanced can be justified by reference to the hypothetical choices of rational contracting agents. The book concludes with a discussion of some principal objections to the enterprise of contract theory, and offers its own programme for the future of that theory taking the form of the empirical method.
Progress In Utility And Risk Theory
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Author : G.M. Hagen
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Progress In Utility And Risk Theory written by G.M. Hagen and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Social Science categories.
1. PROGRESS IN UTILITY AND RISK THEORY At the First International Congress of Utility and Risk Theory in Oslo 1982 (FUR-82) it appeared to be a widespread feeling among the participants that the conference signalled something like a paradigm shift in the field. This does not necessarily mean that old truths were discarded and replaced by new ones, but rather that new theories and new empirical evidence were brought forth, compelling old theories to be critically analyzed from new angels. Some of the papers presented at FUR-82 have been published by Reidel in 1983 in a volume edited by Stigum and Wenst0p. The present volume contains com mentaries on a number of the papers presented at the conference together with broader outlines of current views on the theory. The observation that utility and risk theory now appears to be in a state of rapid change has prompted us to choose the title PROGRESS IN UTILITY AND RISK THEORY for the book, in the belief that science always moves from poorer to more advanced paradigms or from weaker to more forceful theories. In other words, change is usually progress, even though intermediate stages in a para digm shift may be bewildering, to say the least.