Decision Making Under Risk - Application to Conditions of the Czech Republic

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26510%2F12%3APU100624" target="_blank" >RIV/00216305:26510/12:PU100624 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Decision Making Under Risk - Application to Conditions of the Czech Republic
Original language description
Classical and neoclassical economic theories consider a human as a rational individual making logical decisions and maximizing his profit. But what if it is not the case? People making decisions in the real world will never be perfectly informed about product or service they want to purchase. Human beings are irrational in the real world. They are influenced by their emotions, feelings, method of presentation of particular information. I.e., variety of factors, influencing the individual, should be taken into account. Definitely, not a single one results in the maximization of profit on the basis of rational decision. On the contrary, people are trying to eliminate the risk, which they face. The economic theories propose that people make their decisions rationally, practically avoiding the risk. Nevertheless, where could be then ranked gamblers, bookmakers and similar people? They are not just a negligible statistical deviation. On the contrary, there are many of them among us. Already
Czech name
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Czech description
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Publication year
2012
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Trends in economics and management for the 21st century
ISBN
978-80-214-4581-9
ISSN
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e-ISSN
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Number of pages
9
Pages from-to
1-9
Publisher name
Neuveden
Place of publication
Neuveden
Event location
Brno
Event date
Sep 20, 2012
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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