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Risk, uncertainty and discrete choice models [PDF]
This paper examines the cross-fertilizations of random utility models with the study of decision making under risk and uncertainty. We start with a description of the expected utility (EU) theory and then consider deviations from the standard EU frameworks, involving the Allais paradox and the Ellsberg paradox, inter alia.
Ben-Akiva, Moshe +10 more
openaire +3 more sources

