Risk & Uncertainty in Decision Making. Topics to be discussed Describing & Differentiating Risk from Uncertainty Role of Risk in Crime Deterrence Preferences.
Chapter 4 UTILITY MAXIMIZATION AND CHOICE Copyright ©2002 by South-Western, a division of Thomson Learning. All rights reserved. MICROECONOMIC THEORY BASIC.
Warm-up Use the table to answer the questions. 1.What is the probability that someone wearing their seatbelt was going >15 mph over speed limit? 2.What.
Modern Views on Risk Attitudes Explained through a History of Interactions between Psychologists and Economists San Diego, May 5 '04 by Peter P. Wakker,
