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.
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Course duration 8 hours
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Contact me to receive detailed information on the topics we will cover
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