An approximate dual-self model and paradoxes of choice under risk
We derive a simplified version of the model of Fudenberg and Levine [2006, 2011] and show how this approximate model is useful in explaining choice under risk. We show that in the simple case of three outcomes, the model can generate indifference curves that "fan out" in the Marshack-Machi...
| Main Authors: | , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
2013-03-05.
|
| Subjects: | |
| Online Access: | Get fulltext |