Search Results - subject:"Expected utility model"

Risk perception, risk attitude and decision : a Rank-Dependent approach.

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 …

Persistent link: https://www.econbiz.de/10004988964

When can expected utility handle first-order risk aversion?

Dionne, Georges; Li, Jingyuan - In: Journal of Economic Theory 154 (2014) C, pp. 403-422

participation. Our model is compared to the rank-dependent expected utility model. …

Persistent link: https://www.econbiz.de/10011076684

When can expected utility handle first-order risk aversion?

Dionne, Georges; Li, Jingyuan - In: Journal of economic theory 154 (2014), pp. 403-422

Persistent link: https://www.econbiz.de/10010481337

Substituting one risk increase for another: A method for measuring risk aversion

Liu, Liqun; Meyer, Jack - In: Journal of Economic Theory 148 (2013) 6, pp. 2706-2718

This paper defines the rate of substitution of one stochastic change to a random variable for another. It then focuses on the case where one of these changes is an nth degree risk increase, and the other is an mth degree risk increase, where nm⩾1. The paper shows that the rate of substitution...

Persistent link: https://www.econbiz.de/10011042963

Substituting one risk increase for another : a method for measuring risk aversion

Liu, Liqun; Meyer, Jack - In: Journal of economic theory 148 (2013) 6, pp. 2706-2718

Persistent link: https://www.econbiz.de/10010257901

Les fondements axiomatiques de la mesure des inégalités

Gajdos, Thibault - In: Revue d'économie politique 111 (2001) 5, pp. 683-719

Ginis, which do not respect the independence axiom, and implicitely rely on the Rank-Dependent Expected Utility model. The …

Persistent link: https://www.econbiz.de/10011187225

Towards a constructive approach to act-conditional subjective expected utility models

Xie, Zhigang; French, Simon - In: TOP: An Official Journal of the Spanish Society of … 5 (1997) 2, pp. 167-186

Persistent link: https://www.econbiz.de/10005371455

Price Uncertainty, The Competitive Firm and the Dual Theory of Choice Under Risk

Demers, Fanny; Demers, Michel - Carleton University, Department of Economics - 1989

This paper undertakes an analysis of the competitive firm facing output price uncertainty based on Yaari's dual theory of choice under risk. The axiomatic foundation of Yaari's non-expected utility approach permits the formulation of a preference functional which is linear in profit but...

Persistent link: https://www.econbiz.de/10008565971