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Decision Making under Uncertainty: A Methodological Note

  • Assia Liberatore
Part of the Advances in Intelligent Systems and Computing book series (AISC, volume 373)

Abstract

Under uncertainty, the economic agent is far from taking rational decisions, incurring in heuristics and cognitive errors such as reversal of preferences, focal points and so on. Many economists and psychologists have shown that the behavior of the decision maker in the real market is also driven by loss aversion and trust. The purpose of this study is to describe the experimental evidences that diverge from the standard economic decision theory, through a methodological review of the most significant laboratory techniques and field analysis performed in behavioral and experimental economics since the last quarter of the Twentieth Century.

Keywords

behavioral economics experimental economics bounded rationality loss aversion 

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Copyright information

© Springer International Publishing Switzerland 2015

Authors and Affiliations

  1. 1.School of Advanced StudiedUniversity of Chieti-PescaraChietiItaly

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