Search Results - subject:"RANK DEPENDENT EXPECTED UTILITY"

An Explanation of Inefficiencies in the Pelota Betting Market: Rank Dependent Expected Utility

Llorente, Loreto - In: Journal of Gambling Business and Economics 1 (2007) 2, pp. 147-163

under Quiggin's rank dependent expected utility (RDEU) model. They find that bettors have to be optimistic in order to … dependent expected utility maximizers, these inefficiencies tend to disappear. … return on bets there are inefficiencies in the market. In this paper we show that, given an assumption that bettors are rank …

Persistent link: https://www.econbiz.de/10005256336

Inequality, quasi-concavity, and gradual population shifts

Bosmans, Kristof - Centrum voor Economische Studiën, Faculteit Economie … - 2006

inequality measures and the class of normative inequality measures based on a social welfare function of the rank-dependent … expected utility form——satisfy quasi-concavity properties, which imply, loosely speaking, that mixing income distributions …

Persistent link: https://www.econbiz.de/10005642223

Error Propagation in the Elicitation of Utility and Probability Weighting Functions

Blavatskyy, Pavlo - In: Theory and Decision 60 (2006) 2, pp. 315-334

Elicitation methods in decision-making under risk allow us to infer the utilities of outcomes as well as the probability weights from the observed preferences of an individual. An optimally efficient elicitation method is proposed, which takes the inevitable distortion of preferences by random...

Persistent link: https://www.econbiz.de/10005709912

More pessimism than greediness: a characterization of monotone risk aversion in the rank-dependent expected utility model

Chateauneuf, Alain; Cohen, Michéle; Meilijson, Isaac - In: Economic Theory 25 (2005) 3, pp. 649-667

]), in the Rank Dependent Expected Utility (RDEU) model. This model replaces expected utility by another functional …

Persistent link: https://www.econbiz.de/10005753225

Tax Compliance and Rank Dependent Expected Utility

Arcand, Jean-Louis; Graziosi, Grégoire - In: The Geneva Papers on Risk and Insurance Theory 30 (2005) 1, pp. 57-69

Formulating the classic Allingham and Sandmo [1972] tax compliance problem under Rank Dependent Expected Utility (RDEU …

Persistent link: https://www.econbiz.de/10005722856

Inverse stochastic dominance constraints and rank dependent expected utility theory

Dentcheva, Darinka; Ruszczynski, Andrzej - EconWPA - 2005

We consider optimization problems with second order stochastic dominance constraints formulated as a relation of Lorenz curves. We characterize the relation in terms of rank dependent utility functions, which generalize Yaari's utility functions. We develop optimality conditions and duality...

Persistent link: https://www.econbiz.de/10005125607

Induced Preferences and Decision-Making Under Risk and Uncertainty

Milne, Frank; Kelsey, David - 1994

models with objective probabilities and show that the induced preferences can have the rank dependent expected utility form …

Persistent link: https://www.econbiz.de/10011940557

Induced Preferences and Decision-Making Under Risk and Uncertainty

Milne, Frank; Kelsey, David - Economics Department, Queen's University - 1994

models with objective probabilities and show that the induced preferences can have the rank dependent expected utility form …

Persistent link: https://www.econbiz.de/10005490223

Medical insurance with rank-dependent utility

Ryan, Matthew J.; Vaithianathan, Rhema - In: Economic Theory 22 (2003) 3, pp. 689-698

A well-known result in the medical insurance literature is that zero co-insurance is never second-best for insurance contracts subject to moral hazard. We replace the usual expected utility assumption with a version of the rank-dependent utility (RDU) model that has greater experimental support....

Persistent link: https://www.econbiz.de/10005155378

Rank dependent expected utility models of tax evasion.

Eide, Erling - International Centre for Economic Research (ICER) - 2001

In this paper the rank-dependent expected utility theory is substituted for the expected utility theory in models of … tax evasion carry over to the more general rank dependent expected utility model. …

Persistent link: https://www.econbiz.de/10005427064