Introduction -- A Serious Specific Scenario for a Serious Risky Choice Theory -- What Expected Utility Theory Really is: What is Notion of Risk Aversion Excludes -- Primary and Secondary Satisfactions -- The von Neumann-Morgenstern Contradiction when Including Secondary Satisfactions Solved with Stages of Knowledge -- Material Secondary Satisfactions and Planning -- Misconceptions About Secondary Satisfactions -- Biases in Experimental Set-ups that Ignore Secondary Satisfactions -- SKAT, The Stages of Knowledge Ahead Theory -- Self Report Versus Scientist's Own Introspection and Related Reliability Issues -- Aspects -- Willingness to Pay Compared with Choices in a Dictated Choice Set -- The Role of Secondary Satisfactions -- Algorithms Versus Global Maximising Procedures -- Ramifications
Summary
"This book is written for those seeking a decision theory appropriate for use in serious choices such as insurance. It employs stages of knowledge ahead to track satisfactions and dissatisfactions."--Jacket
Bibliography
Includes bibliographical references (pages 205-218)-and indexes
Notes
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