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  1. Risky Curves

    On the Empirical Failure of Expected Utility

    By Daniel Friedman, R. Mark Isaac, Duncan James, Shyam Sunder

    For several decades, the orthodox economics approach to understanding choice under risk has been to assume that each individual person maximizes some sort of personal utility function defined over purchasing power. This new volume contests that even the best wisdom from the orthodox theory has not...

    Published February 2nd 2014 by Routledge

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