Every day people have to stick out their necks and make decisions dealing with uncertainty. Manufacturing firms decide if they want to take a chance on developing a new product. In the financial field, business people look for investments that will bring in the most money. In her working paper, Professor Ayse Öncüler creates a model that analyzes how people decide to place their bets. In particular, she looks at how the delay and uncertainty in each gamble affects people’s decisions.
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the real title of this piece is Intertemporal Choice Under Uncertainty: A Behavioral Perspective but that sounds frightful doesn’t it…