Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
970449 | The Journal of Socio-Economics | 2010 | 7 Pages |
Abstract
The expected utility (EU) model is widely used for predicting and describing choices under uncertainty. Its usefulness, however, is limited because of its widely acknowledged inconsistencies and paradoxes. This paper describes how important EU model paradoxes can be resolved by accounting for the influences of socio-emotional goods (SEGs) embedded in word and other symbolic frames.
Keywords
Related Topics
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Economics and Econometrics
Authors
Lindon J. Robison, Robert S. Shupp, Robert J. Myers,