Heterodox
Explanation of why expected utility theory is "an ex-hyoptheis." Actually, there is a lot more wrong with it such hypotheses used as assumptions in the construction of homo economicus, and the exportation of homo economicus from theory to practical use. Homo economicus is a theoretical construct used to simplify the complexities of human behavior for use in an economic model. But human behavior is not limited to economics other than in quite specialized cases, where it is reasonable...
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