Abstract
Before I describe the economic approach to decision making in risky circumstances, let me offer some truth in advertising. It would not be unfair to conclude by now that most individuals do not behave as homo economicus, that uber-rational decision making fiction employed by economists to permit us to use the tools of rationality to analyze markets and human behavior. A simple example will demonstrate this.
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© 2009 Colin Read
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Read, C. (2009). The Microeconomics of Risk Aversion. In: The Fear Factor. Palgrave Macmillan, London. https://doi.org/10.1057/9780230250864_10
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DOI: https://doi.org/10.1057/9780230250864_10
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-31007-4
Online ISBN: 978-0-230-25086-4
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)