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Deploying Experienced Utility in Health Economic Evaluation: A Quantitative Study [PDF]
Journal of Market Access & Health PolicyBackground: Expected utility has been deployed in order to predict health behaviour in health economic evaluation. However, only limited variance in health behaviour is explained by this construct.
Damien S. E. Broekharst +5 more
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Fluctuation theorems and expected utility hypothesis
Physical Review E, 2023 The expected utility hypothesis is a popular concept in economics that is useful for making decisions when the payoff is uncertain. In this paper, we investigate the implications of a fluctuation theorem in the theory of expected utility. In particular, we wonder whether entropy could serve as a guideline for gambling. We prove the existence of a bound
Gianluca Francica, Luca Dell'Anna
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SHOULD AGRICULTURAL AND RESOURCE ECONOMISTS CARE THAT THE SUBJECTIVE EXPECTED UTILITY HYPOTHESIS IS FALSE? [PDF]
, 1998 This paper argues that the subjective expected utility (SEU) hypothesis has serious limitations in both positive and normative analysis. In addition to experimental evidence, we discuss examples where alternatives to the SEU model provide a richer framework for the study problems of choice under uncertainty.
Woodward, Richard T. +1 more
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Uses of behavioral finance for description selected phenomena on the Polish insurance market [PDF]
Zeszyty Naukowe PTE w Zielonej Górze, 2021 The aim of this study is to analyse and explain selected phenomena observed on the Polish insurance market through the behavioral finance. The analysis focuses mainly on the description and explanation of deviations from instrumental rationality, which ...
Norbert Duczkowski
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Does Amount of Information Support Aesthetic Values?
Frontiers in Neuroscience, 2022 Obtaining information from the world is important for survival. The brain, therefore, has special mechanisms to extract as much information as possible from sensory stimuli.
Norberto M. Grzywacz +3 more
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Modality, expected utility, and hypothesis testing
Synthese, 2023 AbstractWe introduce an expected-value theory of linguistic modality that makes reference to expected utility and a likelihood-based confirmation measure for deontics and epistemics, respectively. The account is a probabilistic semantics for deontics and epistemics, yet it proposes that deontics and epistemics share a common core modal semantics, as in
Chung, Woojin, Mascarenhas, Salvador
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Asymmetrically dominated choice problems, the isolation hypothesis and random incentive mechanisms. [PDF]
PLoS ONE, 2014 This paper presents an experimental study of the random incentive mechanisms which are a standard procedure in economic and psychological experiments. Random incentive mechanisms have several advantages but are incentive-compatible only if responses to ...
James C Cox +2 more
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Quantifying Risk Perception: The Entropy Decision Risk Model Utility (EDRM-U)
Systems, 2020 Risk perception can be quantified in measurable terms of risk aversion and sensitivity. While conducting research on the quantization of programmatic risk, a bridge between positive and normative decision theories was discovered through the application ...
Thomas Monroe +2 more
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Gender and Risk Aversion: Evidence from a Natural Experiment
Games, 2023 The theoretical literature on risk aversion and Expected Utility Theory is extensive; however, the analysis of this behaviour with natural experiments could be more comprehensive.
Luís Pacheco +2 more
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PLoS ONE, 2022 Combined with the expected utility theory, this paper constructs a theoretical analysis framework including the development level, financial literacy, and intelligence level of Inclusive Finance, puts forward the hypothesis of the development of digital ...
Kun Li, He Mengmeng, Junjun Huo
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