do Mfantse fish sellers estimate probabilities in their heads?


Journal Article

This paper describes how Mfantse fish sellers deal with choice under uncertainty. An alternative is offered to economists' cognitively unrealistic assumption that decision makers calculate probability distributions to assess the riskiness of uncertain outcomes. Fish sellers appear to minimize risks not by refusing to take risks above a minimum acceptable probability of loss, but by refusing to market their fish if any one of several discrete tests indicates unfavorable market conditions, a “multiple check” strategy derived from sellers' verbal reports. 1978 American Anthropological Association

Full Text

Duke Authors

Cited Authors

  • QUINN, N

Published Date

  • January 1, 1978

Published In

Volume / Issue

  • 5 / 2

Start / End Page

  • 206 - 226

Electronic International Standard Serial Number (EISSN)

  • 1548-1425

International Standard Serial Number (ISSN)

  • 0094-0496

Digital Object Identifier (DOI)

  • 10.1525/ae.1978.5.2.02a00020

Citation Source

  • Scopus