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Experimental evidence on case-based decision theory

โœ Scribed by Wolfgang Ossadnik, Dirk Wilmsmann, Benedikt Niemann


Book ID
120782093
Publisher
Springer US
Year
2012
Tongue
English
Weight
389 KB
Volume
75
Category
Article
ISSN
0040-5833

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Gilboa and Schmeidler provide a new paradigm for modeling decision making under uncertainty. Case-based decision theory suggests that people make decisions by analogies to past cases: they tend to choose acts that performed well in the past in similar situations, and to avoid acts that performed poo