A mixed fan hypothesis and its implications for behavior toward risk

Article Abstract:

New data affecting the expected utility theory has prompted the formulation of a new behavioral hypothesis based on current assumptions. The mixed fan hypothesis states that risk aversion is inversely related to economic status. Evidence indicate that fanning effects are no longer observable in the inner regions of probability triangles. To test for fanning effects in the general probability environment, a new technique is proposed.

Methods, Statistical hypothesis testing

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Stigler-Becker versus Myers-Briggs: why preference-based explations are scientifically meaningful and empirically important

Article Abstract:

Even though preference based economic explanations are typically objected by economists, it has got it's own importance. It does not mean that traditional approach of explanation using price and income as a base are unimportant, but using a mixture of constraints and preferences would be more logical.

Cost (Economics), Costs (Economics)

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Rational escalation of costs by playing a sequence of unfavourable gambles: the martingale

Article Abstract:

The martingale strategy states quite the opposite of the St. Petersburg Paradox. It rationalizes the irrationality of playing, by listing the conditions under which, a player should play.

Venture Analysis, Utility theory, Utility functions, Games of strategy (Mathematics), Irrationalism (Philosophy), Irrationalism

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