For several decades, the orthodox economics approach to understanding choice under risk has been to assume that each individual person maximizes some sort of personal utility function defined over purchasing power. This new volume contests that even the best wisdom from the orthodox theory has not yet been able to do better than supposedly naive models that use rules of thumb, or that focus on the consumption possibilities and economic constraints facing the individual.
The authors assert this by first revisiting the origins of orthodox theory. They then recount decades of...
For several decades, the orthodox economics approach to understanding choice under risk has been to assume that each individual person maximizes so...
These imaginative and captivating stories make reading to children a pleasure. "my little friends" gives children an affectionate connection to small living creatures. They will soon take them into their hearts and enthusiastically accompany them on their adventures.
These imaginative and captivating stories make reading to children a pleasure. "my little friends" gives children an affectionate connection to small ...
These imaginative and captivating stories make reading to children a pleasure. "My little friends" volume 2 gives children an affectionate connection to small and big living creatures. They will soon take them into their hearts and enthusiastically accompany them on their adventures.
These imaginative and captivating stories make reading to children a pleasure. "My little friends" volume 2 gives children an affectionate connection ...
