Incorporating a stochastic element into decision theories

Loomes, G. and Sugden, R. (1995) Incorporating a stochastic element into decision theories. European Economic Review, 39 (3-4). pp. 641-648. ISSN 0014-2921

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Abstract

Recent papers by Harless and Camerer (1994) and Hey and Orme (1994) have employed two rather different models of errors in decision making under uncertainty. The present paper develops a third approach and shows how different stochastic specifications of the same deterministic 'core' theory may generate very different (and sometimes surprising) hypotheses.

Item Type: Article
Uncontrolled Keywords: decision theory,imprecise preferences,uncertainty
Faculty \ School: Faculty of Social Sciences > School of Economics
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Depositing User: Pure Connector
Date Deposited: 19 Nov 2013 16:14
Last Modified: 06 Nov 2018 15:40
URI: https://ueaeprints.uea.ac.uk/id/eprint/44503
DOI:

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