Ivan Moscati
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View article: Between Worlds: Daniel Ellsberg (1931–2023)
Between Worlds: Daniel Ellsberg (1931–2023) Open
Daniel Ellsberg was a multifaced personality who belonged to multiple worlds: academia, the military, and, in the second part of his life, political activism. This essay reviews Ellsberg’s analysis of decision-making under uncertainty, whi…
View article: Digital Nudging and Cookie Rejection: An Experiment
Digital Nudging and Cookie Rejection: An Experiment Open
When browsing the Internet, web users tend to accept all cookies even though this may threaten their online security. We apply a salience nudge and a framing nudge to the design of a cookie banner and test their individual and combined eff…
View article: Behavioural and heuristic models are as-if models too – and that’s ok
Behavioural and heuristic models are as-if models too – and that’s ok Open
I examine some behavioural and heuristic models of individual decision-making and argue that the diverse psychological mechanisms these models posit are too demanding to be implemented, either consciously or unconsciously, by actual decisi…
View article: A review of nudges: Definitions, justifications, effectiveness
A review of nudges: Definitions, justifications, effectiveness Open
In 2008, the behavioral economist Richard Thaler and the legal scholar Cass Sunstein published a book in which they advocated a novel approach to public policy based on the notion of a “nudge.” Roughly speaking, a nudge is an intervention …
View article: BPP volume 4 issue 1 Cover and Back matter
BPP volume 4 issue 1 Cover and Back matter Open
An abstract is not available for this content so a preview has been provided. As you have access to this content, a full PDF is available via the ‘Save PDF’ action button.
View article: More Light on Measuring Utility. A Response to Herfeld, Heilmann, and Lenfant
More Light on Measuring Utility. A Response to Herfeld, Heilmann, and Lenfant Open
This article belongs to a review symposium on my book “Measuring Utility. From the Marginal Revolution to Behavioral Economics”, Oxford University Press, 2018, and contains my response to the three reviewers, namely Catherine Herfeld, Conr…
View article: Measuring Utility: From the Marginal Revolution to Behavioral Economics. Prologue
Measuring Utility: From the Marginal Revolution to Behavioral Economics. Prologue Open
This paper is the penultimate version of the Prologue to my book Measuring Utility. From the Marginal Revolution to Behavioral Economics, published in 2018 by Oxford University Press in the series Oxford Studies in the History of Economics.
View article: Message and Environment: A Framework for Nudges and Choice Architecture
Message and Environment: A Framework for Nudges and Choice Architecture Open
We argue that the diverse components of a choice architecture can be classified into two main dimensions – Message and Environment – and that the distinction between them is useful in order to better understand how nudges work. In the …
View article: Measuring the Economizing Mind in the 1940s and 1950s: The Mosteller-Nogee and Davidson-Suppes-Siegel Experiments to Measure the Utility of Money
Measuring the Economizing Mind in the 1940s and 1950s: The Mosteller-Nogee and Davidson-Suppes-Siegel Experiments to Measure the Utility of Money Open
The article studies the origin, content, and impact of two experiments to measure the utility of money, one by Frederick Mosteller and Philip Nogee in 1948–49 and one by Donald Davidson, Patrick Suppes, and Sidney Siegel in 1954. Both expe…
View article: Retrospectives: How Economists Came to Accept Expected Utility Theory: The Case of Samuelson and Savage
Retrospectives: How Economists Came to Accept Expected Utility Theory: The Case of Samuelson and Savage Open
Expected utility theory dominated the economic analysis of individual decision-making under risk from the early 1950s to the 1990. Among the early supporters of the expected utility hypothesis in the von Neumann–Morgenstern version were Mi…
View article: Nash was a first to axiomatize expected utility
Nash was a first to axiomatize expected utility Open
Nash is famous for many inventions, but it is less known that he, simultaneously with Marschak, also was the first to axiomatize expected utility for risk. In particular, these authors were the first to state the independence condition, a …
View article: How Economists Came to Accept Expected Utility Theory: The Case of Samuelson and Savage
How Economists Came to Accept Expected Utility Theory: The Case of Samuelson and Savage Open
Based on the correspondence between Paul Samuelson, Leonard Jimmie Savage, Milton Friedman and Jacob Marschak between May and September 1950, the article reconstructs the joint intellectual journey that led Samuelson to accept expected uti…