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THE CHOICE IN CONDITIONS OF RISK AND UNCERTAINTY

Comparison of normative and descriptive theories

A course to get closer to the magical world of Decision Making and Behavioral Economics 

We decide using probabilistic calculus and other complex mathematical calculations, as classical economic theories, normative theories would like, or, as the descriptive theories affirm,   we rely on efficienti adaptive forms of reasoning, mental shortcuts  that help us a  extricate ourselves in an uncertain world?

With the descriptive approach, we are  in the context of Behavioral Economics, discipline  which studies the effects of psychological, cognitive and emotional, cultural and social factors on the decisions of individuals and highlights how these choices are far from those hypothesized by the standard models of classical economic theory.

Course duration 8 hours

Contact me to receive detailed information on the topics we will cover

luigia.barzaghi@libero.it

 

 

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