Discover how neoclassical economics shapes supply, demand, pricing, and consumer behavior, influencing modern economic ...

According to the theory of expected utility, a staple of modern economics, people should always carefully weigh the likelihood of an event along with the prizes or consequences that would accrue ...

Norbert Hirschauer, Antje Jantsch, Oliver Musshoff, Developing business ethics theory and integrating economic analysis into business ethics teaching – a conceptualization based on externalities and ...

Expected Utility Theory (EUT) and Cumulative Prospect Theory (CPT) face problems explaining preferences of long-term investors. Previous research motivates that the subjective utility of a long-term ...

Regret theory postulates that decision‐makers do not solely evaluate outcomes based on traditional expected utility; they also incorporate the anticipated emotional response resulting from ...