The Effect of Probabilities on the Subjective Evaluation of Lotteries PDF ePub eBook

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The Effect of Probabilities on the Subjective Evaluation of Lotteries free pdf Excerpt from The Effect of Probabilities on the Subjective Evaluation of Lotteries The descriptive ability of the expected utility formulation has been questioned in many investigations. Counterexamples such as the Ellsberg and Allais paradoxes have been posed that lead to choices inconsistent in the expected utility framework. It has been suggested that these effects are related to the probabilities involved. It is hypothesised that the probabilities involved in a lottery are imperfectly processed in subjectively evaluating the lottery. A simple experiment is proposed to test this possibility. Some preliminary results are reported which appear to demonstrate such an effect, and the implications of the results are briefly discussed. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully- any imperfections that remain are intentionally left to preserve the state of such historical works.

About Uday S Karmarkar

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Details Book

Author : Uday S Karmarkar
Publisher : Forgotten Books
Data Published : 27 September 2015
ISBN : 1332259014
EAN : 9781332259014
Format Book : PDF, Epub, DOCx, TXT
Number of Pages : 88 pages
Age + : 15 years
Language : English
Rating :

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  • The Effect of Probabilities on the Subjective Evaluation of Lotteries free pdfThe Effect of Probabilities on the Subjective Evaluation of Lotteries

    Online Downloadable Books. Excerpt from The Effect of Probabilities on the Subjective Evaluation of Lotteries The descriptive ability of the expected utility formulation has been questioned in many in