Repeated Gambles, Learning, and Risk Aversion
We analyze a decision problem with repeated gambles and find that under some seemingly reasonable risk-averse utility functions, recommended behavior for the initial decision can be highly risk-taking and counterintuitive. Further analysis reveals that the derived utility function for the return on...
| Veröffentlicht in: | Management Science. - Institute for Operations Research and the Management Sciences, 1954. - 38(1992), 6, Seite 807-818 |
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| Format: | Online-Aufsatz |
| Sprache: | English |
| Veröffentlicht: |
1992
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| Zugriff auf das übergeordnete Werk: | Management Science |
| Schlagworte: | Decision Analysis, Sequential: Learning and Risk Taking Philosophy of Modeling: Small World and Grand World Utility/Preference, Theory: Derived Utility Economics Behavioral sciences Education Applied sciences |
| Online verfügbar |
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