1985 | OriginalPaper | Buchkapitel
Back from Prospect Theory to Utility Theory
verfasst von : Howard Raiffa
Erschienen in: Plural Rationality and Interactive Decision Processes
Verlag: Springer Berlin Heidelberg
Enthalten in: Professional Book Archive
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People, both smart and dumb, often do not behave the way normative theorists say they should behave. But what is even more frustrating, some (otherwise) smart people, who know how they should behave according to some impeccably beautiful normative theory, like the maximization of subjective expected utility (SEU) — you can clearly see my biases — nevertheless, do not always follow those guidelines.