The Knowledge Ahead Approach to Risk Theory and Experimental Evidence
The joint work of Robin Pope, Johannes Leitner and Ulrike Leopold- Wildburger presented in this little book makes a strong point for a new approach to decision making under risk. It emphasizes aspects of risk preferences largely neglected in the theoretical and experimental lite- ture. Before the ou...
| Main Authors: | , , |
|---|---|
| Format: | eBook |
| Language: | English |
| Published: |
Berlin, Heidelberg
Springer Berlin Heidelberg
2007, 2007
|
| Edition: | 1st ed. 2007 |
| Series: | Lecture Notes in Economics and Mathematical Systems
|
| Subjects: | |
| Online Access: | |
| Collection: | Springer eBooks 2005- - Collection details see MPG.ReNa |
Table of Contents:
- Theory and Methodology
- A Serious Specific Scenario for a Serious Risky Choice Theory
- What Expected Utility Theory Really Is: What Its Notion of Risk Aversion Excludes
- Primary and Secondary Satisfactions
- The von Neumann-Morgenstern Contradiction When Including Secondary Satisfactions Solved with Stages of Knowledge
- Material Secondary Satisfactions and Planning
- Misconceptions About Secondary Satisfactions
- Biases in Experimental Set-ups That Ignore Secondary Satisfactions
- SKAT, The Stages of Knowledge Ahead Theory
- Self Reports Versus Scientists’ Own Introspection and Related Reliability Issues
- Experiments
- Participants and Their Choices
- Willingness to Pay Compared with Choices in a Dictated Choice Set
- The Role of Secondary Satisfactions
- Algorithms Versus Global Maximising Procedures
- Insurance Provision by Governments and Firms
- Summary and Directions for Further Research