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| Author: | Guala, F. |
| Title: | The logic of normative falsification: rationality and experiments in decision theory |
| Journal: | Journal of Economic Methodology
2000 : MAR, VOL. 7:1, p. 59-93 |
| Index terms: | Decision theory Rationality |
| Language: | eng |
| Abstract: | The paper investigates how normative considerations influenced the development of the theory of individual decision-making under risk. In the first part, the debate between Maurice Allais and the "Neo-Bernoullians" (supporting the Expected Utility model) is reconstructed. In the second part, it is shown how informal notions of rationality were among the tacit heuristic principles that led to the discovery of generalised models of decision put forward in the early eighties to replace the received model. |
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