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Logical Foundations of Induction
Logical Foundations of Induction

Relation and Functions
Relation and Functions

Using Prospect Theory to Analyze New Risks
Using Prospect Theory to Analyze New Risks

slides - John L. Pollock
slides - John L. Pollock

... practical use of probabilities without being able to deduce everything we need via the probability calculus. • I will argue that, on a certain conception of probability, there are mathematically derivable second-order probabilities to the effect that various inferences about first-order probabilitie ...
Stochastic Search and Surveillance Strategies for
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doc - John L. Pollock
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Review Notes for IB Standard Level Math
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The Probability of Inconsistencies in Complex Collective Decisions
The Probability of Inconsistencies in Complex Collective Decisions

... distributions of the form discussed in Section 3 are equally probable. That expected probability coincides with the probability of the paradox under the so-called impartial anonymous culture assumption. In Section 5, I discuss two escape-routes from the paradox, the premise- and conclusion-based dec ...
Why do we change whatever amount we found in the first
Why do we change whatever amount we found in the first

Scalar utility theory and proportional processing_ What does it
Scalar utility theory and proportional processing_ What does it

Symmetry and Probability - Academic Commons
Symmetry and Probability - Academic Commons

Sensitivity, Specificity, and Useful Measures of Diagnostic Utility
Sensitivity, Specificity, and Useful Measures of Diagnostic Utility

Misspecified Recovery Jaroslav Boroviˇcka Lars Peter Hansen Jos´e A. Scheinkman
Misspecified Recovery Jaroslav Boroviˇcka Lars Peter Hansen Jos´e A. Scheinkman

... Arrow, that asset prices reflect a combination of investors’ risk aversion and the probability distributions used to assess risk. In dynamic models, investors’ risk aversion is expressed by stochastic discount factors that include compensations for risk exposures. In this paper, we ask what can be l ...
LPS 31: Introduction to Inductive Logic Lecture 1
LPS 31: Introduction to Inductive Logic Lecture 1

PDF
PDF

Conditionals predictions
Conditionals predictions

Twenty-One Arguments Against Propensity Analyses of Probability
Twenty-One Arguments Against Propensity Analyses of Probability

Performance Analysis of a Heterogeneous Traffic Scheduler
Performance Analysis of a Heterogeneous Traffic Scheduler

Numeracy Counts - Newport High School
Numeracy Counts - Newport High School

Cloze but no cigar: The complex relationship between cloze, corpus,... subjective probabilities in language processing
Cloze but no cigar: The complex relationship between cloze, corpus,... subjective probabilities in language processing

Dual characterization of properties of risk measures on Orlicz hearts
Dual characterization of properties of risk measures on Orlicz hearts

What Could Be Objective About Probabilities
What Could Be Objective About Probabilities

... “Humean mosaic”, then we have a clear breakdown of Humean supervenience: two worlds could agree completely in their Humean mosaic but disagree in their physical structure, since they are governed by different probabilistic laws. Since the evidence available to scientists in a world is determined by ...
What Could Be Objective About Probabilities
What Could Be Objective About Probabilities

Comparative Value and the Weight of Reasons
Comparative Value and the Weight of Reasons

... Marcus Pivato, Peter Sher, Shlomi Sher, Eran Shmaya, Joel Sobel and participants at the Workshop on Reasons and Mental States in Decision Theory at LSE. ...
A Beginner`s Guide to Earthquake Fragility
A Beginner`s Guide to Earthquake Fragility

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Risk aversion (psychology)

Risk-aversion is a preference for a sure outcome over a gamble with higher or equal expected value. Conversely, the rejection of a sure thing in favor of a gamble of lower or equal expected value is known as risk-seeking behavior.The psychophysics of chance induce overweighting of sure things and of improbable events, relative to events of moderate probability. Underweighting of moderate and high probabilities relative to sure things contributes to risk-aversion in the realm of gains by reducing the attractiveness of positive gambles. The same effect also contributes to risk-seeking in losses by attenuating the aversiveness of negative gambles. Low probabilities, however, are overweighted, which reverses the pattern described above: low probabilities enhance the value of long-shots and amplify aversion to a small chance of a severe loss. Consequently, people are often risk-seeking in dealing with improbable gains and risk-averse in dealing with unlikely losses.
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