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Anomalies -- Risk Aversion (2001)
by
Matthew Rabin
,
Richard H. Thaler
| Venue: | JOURNAL OF ECONOMIC PERSPECTIVES |
| Citations: | 138 - 3 self |
BibTeX
@MISC{Rabin01anomalies--,
author = {Matthew Rabin and Richard H. Thaler},
title = {Anomalies -- Risk Aversion},
year = {2001}
}
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Abstract
Economics can be distinguished from other social sciences by the belief that most (all?) behavior can be explained by assuming that rational agents with I stable, well-<lefined preferences interact in markets that (eventually) clear. An empirical result qualifies as an anomaly if it i ~ difficult to "rationalize " or if implausible assumptions are necessary to explain it within the paradigm. Suggestions for future topics should be sent to Richard Thaler, c/oJournal of Economic
