منابع مشابه
Linking Behavioral Economics , Axiomatic Decision Theory and General Equilibrium Theory
Linking Behavioral Economics, Axiomatic Decision Theory and General Equilibrium Theory
متن کاملAFFECTIVE DECISION MAKING: A BEHAVIORAL THEORY OF CHOICE By
Affective decision-making (ADM) is a refutable and predictive theory of individual choice under risk and uncertainty. It generalizes expected utility theory by positing the existence of two cognitive processes – the “rational” and the “emotional” process. Observed choice is the result of their simultaneous interaction. We present a model of affective choice in insurance markets, where risk perc...
متن کاملAffective Decision Making: A Behavioral Theory of Choice∗
Affective decision-making is a strategic model of choice under risk and uncertainty where we posit two cognitive processes — the "rational" and the "emotional" process. Observed choice is the result of equilibirum in this intrapersonal game. As an example, we present applications of affective decision-making in insurance markets, where the risk perceptions of consumers are endogenous. We then d...
متن کاملCan behavioral decision theory explain risk-averse fire management decisions?
Organizations managing forest land often make fire management decisions that seem overly risk-averse in relation to their stated goals for ecosystem restoration, protection of sensitive species and habitats, and protection of water and timber resources. Research in behavioral decision theory has shown that people faced with difficult decisions under uncertainty and decisions with multiple and c...
متن کاملBehavioral Contract Theory
P and economics—also known as behavioral economics—is a mindset for doing economics that espouses the importance of thinking about the psychological accuracy of models. After a history of identifying deviations from classical approaches, modeling these deviations formally, and empirically establishing their importance in economic decisions, the field is in the process of full integration into e...
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ژورنال
عنوان ژورنال: Annual Review of Psychology
سال: 1977
ISSN: 0066-4308,1545-2085
DOI: 10.1146/annurev.ps.28.020177.000245