Hostname: page-component-cd9895bd7-dk4vv Total loading time: 0 Render date: 2024-12-18T15:51:59.188Z Has data issue: false hasContentIssue false

Risky Curves: On the empirical failure of expected utility theory, Daniel Friedman , R. Mark Isaac , Duncan James and Shyam Sunder . Routledge, 2014, xiii + 137 pages.

Published online by Cambridge University Press:  04 October 2016

Catherine C. Eckel*
Affiliation:
Department of Economics, Texas A&M University, TAMU 4228, College Station, TX 77843-4228. Email: [email protected]. URL: https://sites.google.com/site/eckelcatherine/.

Abstract

Image of the first page of this content. For PDF version, please use the ‘Save PDF’ preceeding this image.'
Type
Reviews
Copyright
Copyright © Cambridge University Press 2016 

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

REFERENCES

Bernoulli, D. 1954 [1738]. “Specimen Theoriae Novae de Mensura Sortis,” Commentarii Academiae Scientiarum Imperialis Petropolitanae, 5, 175–192. English translation in Econometrica 22: 23–36.Google Scholar
Dave, C., Eckel, C. C., Johnson, C. A. and Rojas, C.. 2010. Eliciting risk preferences: when is simple better? Journal of Risk and Uncertainty 41 (3): 219243.Google Scholar
Grayson, C.J. 1960. Decisions under Uncertainty: Drilling Decisions by Oil and Gas Operators. Cambridge, MA: Harvard University Press.Google Scholar
Harless, D. W. and Camerer, C. F.. 1994. The predictive utility of generalized expected utility theories. Econometrica 62 (6): 12511289.Google Scholar
Hey, J. D. and Orme, C., 1994. Investigating generalizations of expected utility theory using experimental data. Econometrica 62 (6): 12911326.CrossRefGoogle Scholar
Imas, A. 2016. “The realization effect: risk-taking after realized versus paper losses. American Economic Review 106 (8): 20862109.Google Scholar
Milgrom, P. and Roberts, J.. 1987. Informational asymmetries, strategic behavior, and industrial organization. American Economic Review 77 (2): 184193.Google Scholar
Neilson, W.S. 2011. Theoretical advances spurred by “stubborn facts:” a defense of the Behavioral Economics Paradigm. American Behavioral Scientist 55 (8): 976986.Google Scholar
Piketty, T. 2014. Capital in the 21st Century. Cambridge, MA: Harvard University Press.Google Scholar
Romer, P. M. 2015. Mathiness in the theory of economic growth. American Economic Review 105 (5): 8993.Google Scholar
Roth, A. E. 1996. Comments on Tversky's ‘Rational Theory and Constructive Choice’. In The Rational Foundations of Economic Behavior, ed. Arrow, K., Colombatto, E., Perlman, M. and Schmidt, C., 198202. New York, NY: Macmillan.Google Scholar
Slovic, P. 1962. Convergent validation of risk taking measures. Journal of Abnormal and Social Psychology 65 (1): 6871.Google Scholar