منابع مشابه
Risk Perception, Risk Attitude and Decision : a Rank-Dependent Approach
The classical expected utility model of decision under risk (von NeumannMorgenstern, 1944) has been criticized from an experimental point of view (Allais’ paradox) as well as for its restrictive lack of explanatory power. The RankDependent Expected Utility model (RDU) model (Quiggin, 1982) attempts to answer some of these criticisms. The decision maker is characterized by two functions: a utili...
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This paper is concerned with real-time decision problems. These constitute a generic class of dynamic and stochastic problems. The objective is to provide responses of a required quality in a continuously evolving environment, within a prescribed time frame, using limited resources and information that is often incomplete or uncertain. Furthermore, the outcome of any particular decision may als...
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Most decision models published in the medical literature take a risk-neutral perspective. Under risk neutrality, the utility of a gamble is equivalent to its expected value and the marginal utility of living a given unit of time is the same regardless of when it occurs. Most patients, however, are not risk-neutral. Not only does risk aversion affect decision analyses when tradeoffs between shor...
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ژورنال
عنوان ژورنال: The B.E. Journal of Economic Analysis & Policy
سال: 2008
ISSN: 1935-1682
DOI: 10.2202/1935-1682.1798