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Decision Theory
Decision Theory
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Definitions
Allais Paradox
Allais Paradox
Expected Utility Theory
Behavioral Economics
Decision Theory
Prospect Theory
A phenomenon in decision theory where people's choices under uncertainty violate the axioms of expected utility theory, first identified by Maurice Allais.
Read more about Allais Paradox.
Definitions
Allais Paradox
Economics
Behavioral Economics
Decision Theory
Anomalies in expected utility theory and its implications on decision making under risk.
Read more about Allais Paradox.
Definitions
Decision Theory
Decision Theory
Rational Decision-Making
Economic Theory
Utility Function
Risk and Uncertainty
The analysis of rational decision-making involving choices with known and uncertain outcomes, and the optimization of utility functions.
Read more about Decision Theory.
Definitions
minimax
Decision Theory
Game Theory
Risk Management
The objective in decision theory of minimizing the maximum loss.
Read more about minimax.
Definitions
Minimax Regret
Decision Theory
Uncertainty
Regret
A decision rule in decision theory for minimizing the maximum potential regret across various actions under uncertainty.
Read more about Minimax Regret.
Definitions
St Petersburg Paradox
Paradox
Expected Utility
Decision Theory
Behavioral Economics
An exploration of the St Petersburg Paradox, its origins, and implications in economics.
Read more about St Petersburg Paradox.
Economics Terms Lexicon
Ultimate Dictionary of Economics and Beyond.
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