haku: @author Evans, D. / yhteensä: 3
viite: 2 / 3
| Tekijä: | Evans, D. |
| Otsikko: | The role of markets in reducing espected utility violations |
| Lehti: | Journal of Political Economy
1997 : JUN, VOL. 105:3, p. 622-636 |
| Asiasana: | POLITICAL ECONOMY MARKETS ECONOMICS |
| Kieli: | eng |
| Tiivistelmä: | Market theorists assume that expected utility predicts preferences at the market level even as evidence mounts that it predicts poorly at the individual level. The arguments for better-performing markets are grounded in the assumption that individuals respond to the competition of the market. The objective of this study is to test empirically the validity of those assumptions using the betweenness property of expected utility. Expected utility does indeed predict better in markets. |
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