Cohen, Michèle - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2008
The classical expected utility model of decision under risk (von Neumann-Morgenstern, 1944) has been criticized from an … Utility model (RDU) model (Quiggin, 1982) attempts to answer some of these criticisms. The decision maker is characterized by … experimental point of view (Allais' paradox) as well as for its restrictive lack of explanatory power. The Rank-Dependent Expected …