'Decision utility' presentation slideshows

Misunderstanding and Mispredicting Preferences

Misunderstanding and Mispredicting Preferences. George Loewenstein. What are preferences? Traditional economics: revealed preference (preferences correspond to choices) little content other than consistency (e.g., Sen, 1977) and consistency makes little sense

796 views • 73 slides

Normative Decision Theory

Normative Decision Theory. A prescriptive theory for how decisions should be made to maximize the value of decision outcomes for an individual. Decision Theory. Quantify preferences on outcomes s U( s,a ) Quantify Beliefs about outcomes of actions P(s|O,A) where

269 views • 22 slides

14.127 Behavioral Economics (Lecture 8)

198 views • 19 slides