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The Allais Paradox suggests that expected utility fails because people tend to perceive probabilities with distortion. people tend to dislike losses more than they like
The Allais Paradox suggests that expected utility fails because
- people tend to perceive probabilities with distortion.
- people tend to dislike losses more than they like equivalent-sized gains.
- people tend to be risk-seeking over losses.
- All three of the other answers are correct.
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Plenitude The New Economics Of True Wealth
Authors: Juliet Schor
1st Edition
1594202540, 9781594202544
