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Applications of Non‐Expected Utility

Han Bleichrodt and Ulrich Schmidt

in The Handbook of Rational and Social Choice

Published in print:
2009
Published Online:
May 2009
ISBN:
9780199290420
eISBN:
9780191710506
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199290420.003.0004
Subject:
Economics and Finance, Public and Welfare

Expected utility is the dominant framework for analyzing decisions under risk and uncertainty. Many empirical studies show that people deviate systematically from expected utility. To accommodate ... More


Instrumental Rationality and Expected Utility Theory

Lara Buchak

in Risk and Rationality

Published in print:
2013
Published Online:
April 2014
ISBN:
9780199672165
eISBN:
9780191759048
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199672165.003.0002
Subject:
Philosophy, Philosophy of Mind

This chapter presents examples of preferences that seem prima facie reasonable but that expected utility theory cannot accommodate. It explains why expected utility theory cannot accommodate these ... More


Rationality and Intransitive Preference *: Foundations For The Modern View

Paul Anand

in The Handbook of Rational and Social Choice

Published in print:
2009
Published Online:
May 2009
ISBN:
9780199290420
eISBN:
9780191710506
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199290420.003.0007
Subject:
Economics and Finance, Public and Welfare

This chapter provides an overview of what has been called by philosophers the “modern view“ of formal rational choice by focussing on the arguments relating to rational agency and transitive ... More


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