منابع مشابه
The Dual Theory of Choice under Risk
Your use of the JSTOR archive indicates your acceptance of JSTOR's Terms and Conditions of Use, available at http://www.jstor.org/page/info/about/policies/terms.jsp. JSTOR's Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive o...
متن کاملA Salience Theory of Choice Errors
A Salience Theory of Choice Errors We study a psychologically based foundation for choice errors. The decision maker applies a preference ranking after forming a ‘consideration set’ prior to choosing an alternative. Membership of the consideration set is determined both by the alternative specific salience and by the rationality of the agent (his general propensity to consider all alternatives)...
متن کاملDevelopments in Non-Expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk
OW MANY THEORIES of decision making under risk and uncertainty can you think of? Readers of this article will no doubt be familiar with Expected Utility Theory (EUT), the standard theory of individual choice in economics. Many, I expect, will know of a few alternatives to this model. But how many, I wonder, will be aware that these socalled non-expected utility models now number well into doubl...
متن کاملStochastically more risk averse: A contextual theory of stochastic discrete choice under risk
Microeconometric treatments of discrete choice under risk are typically homoscedastic latent variable models. Specifically, choice probabilities are given by preference functional differences (given by expected utility, rank-dependent utility, etc.) embedded in cumulative distribution functions. This approach has a problem: Estimated utility function parameters meant to represent agents’ degree...
متن کاملDual theory of choice under multivariate risks
We propose a multivariate extension of Yaari’s dual theory of choice under risk. We show that a decision maker with a preference relation on multidimensional prospects that preserves first order stochastic dominance and satisfies comonotonic independence behaves as if evaluating prospects using a weighted sum of quantiles. Both the notions of quantiles and of comonotonicity are extended to the ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: The Quarterly Journal of Economics
سال: 2012
ISSN: 0033-5533,1531-4650
DOI: 10.1093/qje/qjs018