Y1 - Int. to Behavioural Economics

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Week 2

Erasmus Universiteit · Int. Economics and Business Economics

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Risk and uncertainty
Risk attitudes
Choice under uncertainty
1. Maximin (Choose the alternative with the greatest minimum utility payoff) :
2. Maximax (Choose the alternative with the greatest maximum utility payoff) :
3. Minimax Regret (Choose the alternative with the lowest maximum regret) :
Subjective Expected Utility

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