Accession Number : ADA140580

Title :   Risk: The Long and the Short.

Descriptive Note : Technical rept.,

Corporate Author : STANFORD UNIV CA DEPT OF PSYCHOLOGY

Personal Author(s) : Tversky,A ; Bar-Hillel,M

PDF Url : ADA140580

Report Date : Jun 1983

Pagination or Media Count : 26

Abstract : This paper was stimulated by a recent article of Lola Lopes (1982) 'Decision making in the short run', that challenges the normative adequacy of expected utility theory. This note addresses some of the issues raised by Lopes and rebuts her main arguments. The authors propose a new normative treatment and a psychological analysis of an interesting gambling problem introduced by Paul Samuelson (1963) in his article 'Risk and uncertainty: A fallacy of large numbers.'

Descriptors :   *Risk, *Decision making, *Judgement(Psychology), *Perception(Psychology), Gambling, Problem solving, Research management, Game theory

Subject Categories : Administration and Management
      Psychology

Distribution Statement : APPROVED FOR PUBLIC RELEASE