Because It Is There: The Challenge of Mountaineering… for Utility Theory


  • George Loewenstein

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      Department of Social and Decision Sciences, Camegie Mellon University, Pittsburgh, PA 15213, email: I am grateful for comments from Iris Bohnet, Colin Camerer, Shane Frederick, Donna Harsch, Tim Heath, Kalle Moene, Kathleen Much, Drazen Prelec, Daniel Read, Michal Strahilevitr., James Thompson, Chuck Tilly and George Wu. This paper was written for the Conference on Decision-Making in Theory and Practice at University College, Oxford, July 1 & 2, 1998, which was sponsored by the Economic Beliefs and Behavior Programme in the Economic and Social Research Council of Great Britain. The paper was written during my sabbatical at the Center for Advanced Study in the Behavioral Sciences, which was supported by NSF grant # SBR - 960123 to the Center.