The Knowledge Ahead Approach to Risk

1. Introduction

Part I. Theory and Methodology

2. A Serious Specific Scenario for a Serious Risky Choice Theory

3. What Expected Utility Theory Really Is: What Its Notion of Risk Aversion Excludes

4. Primary and Secondary Satisfactions

5. The von Neumann-Morgenstern Contradiction When Including Secondary Satisfactions Solved with Stages of Knowledge

6. Material Secondary Satisfactions and Planning

7. Misconceptions About Secondary Satisfactions

8. Biases in Experimental Set-ups That Ignore Secondary Satisfactions

9. SKAT, The Stages of Knowledge Ahead Theory

10. Self Reports Versus Scientists’ Own Introspection and Related Reliability Issues

Part II. Experiments

11. Participants and Their Choices

12. Willingness to Pay Compared with Choices in a Dictated Choice Set

13. The Role of Secondary Satisfactions

14. Algorithms Versus Global Maximising Procedures

15. Insurance Provision by Governments and Firms

16. Summary and Directions for Further Research

DRM-restrictions

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Keywords: BUSINESS & ECONOMICS / Management Science BUS042000