skip to main content
Guest
My Research
My Account
Sign out
Sign in
This feature requires javascript
Library Search
Find Databases
Browse Search
E-Journals A-Z
E-Books A-Z
Citation Linker
Help
Language:
English
Vietnamese
This feature required javascript
This feature requires javascript
Primo Search
All Library Resources
All
Course Materials
Course Materials
Search For:
Clear Search Box
Search in:
All Library Resources
Or hit Enter to replace search target
Or select another collection:
Search in:
All Library Resources
Search in:
Print Resources
Search in:
Digital Resources
Search in:
Online E-Resources
Advanced Search
Browse Search
This feature requires javascript
Search Limited to:
Search Limited to:
Resource type
criteria input
All items
Books
Articles
Images
Audio Visual
Maps
Graduate theses
Show Results with:
criteria input
that contain my query words
with my exact phrase
starts with
Show Results with:
Search type Index
criteria input
anywhere in the record
in the title
as author/creator
in subject
Full Text
ISBN
ISSN
TOC
Keyword
Field
Show Results with:
in the title
Show Results with:
anywhere in the record
in the title
as author/creator
in subject
Full Text
ISBN
ISSN
TOC
Keyword
Field
This feature requires javascript
ARE PEOPLE PROBABILISTICALLY CHALLENGED?
Michigan Law Review, 2013, Vol.111 (6), p.855-875
Copyright Michigan Law Review Association Apr 2013 ;ISSN: 0026-2234 ;EISSN: 1939-8557
Full text available
Citations
Cited by
View Online
Details
Recommendations
Reviews
Times Cited
External Links
This feature requires javascript
Actions
Add to My Research
Remove from My Research
E-mail
Print
Permalink
Citation
EasyBib
EndNote
RefWorks
Delicious
Export RIS
Export BibTeX
This feature requires javascript
Title:
ARE PEOPLE PROBABILISTICALLY CHALLENGED?
Author:
Stein, Alex
Subjects:
Behavioral economics
;
Behavioral sciences
;
Economic theory
;
Economists
;
Expected utility
;
Group identity
;
Law
;
Law and economics
;
Materialization
;
Philosophy
;
REVIEWS
Is Part Of:
Michigan Law Review, 2013, Vol.111 (6), p.855-875
Description:
Daniel Kahneman's recent book, Thinking, Fast and Slow, is a mustread for any scholar or policymaker interested in behavioral economics. Behavioral economics is a young, but already well-established, discipline that pervasively affects law and legal theory. Kahneman, a 2002 Nobel Laureate, is the discipline's founding father. His pioneering work with Amos Tversky and others challenges the core economic concept of expected utility, which serves to determine the value of people's prospects.' Under mainstream economic theory, the value of a person's prospect equals the prospect's utility upon materialization (U) multiplied by the probability of the prospect materializing (P). When the prospect is advantageous, its utility is a positive sum that augments the person's well-being. When the prospect is disadvantageous, its utility is a negative sum (a disutility) that decreases the person's well-being. Under both scenarios, the full amount of the person's utility or disutility is discounted by the prospect's probability ofnot materializing. Economic theory holds that the expected-utility formula, P. U, ought to determine a rational person's choice among available courses of action. The action yielding the highest expected utility is the one that the person ought rationally to prefer over the alternatives.
Publisher:
Ann Arbor: Michigan Law Review Association
Language:
English
Identifier:
ISSN: 0026-2234
EISSN: 1939-8557
Source:
ProQuest Central
This feature requires javascript
This feature requires javascript
Back to results list
This feature requires javascript
This feature requires javascript
Searching Remote Databases, Please Wait
Searching for
in
scope:(TDTS),scope:(SFX),scope:(TDT),scope:(SEN),primo_central_multiple_fe
Show me what you have so far
This feature requires javascript
This feature requires javascript