Psychology Colloquium: Prof Agnieszka Tymula (University of Sydney)
Prof Agnieszka Tymula (University of Sydney) Title: Rationally Selected Utility – A New Theory of Choice Abstract: Traditional prescriptive decision theories from Pascal’s to Expected Utility have struggled to explain inconsistent human choices, leading to predictive models like Prospect Theory. This paper introduces a novel approach to understand why these behaviors occur, reconciling these observed “irrationalities” with […]