کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
326108 | 541929 | 2013 | 9 صفحه PDF | دانلود رایگان |
• We present a method for classifying decision makers under pp-additive models.
• Our method accommodates decision makers whose risk attitude is context sensitive.
• We present the results of a new experiment designed to evaluate pp-additive models.
Recent work by Luce, 2010a and Luce, 2010b on pp-additive utility theory has yielded three distinct representation classes that correspond to risk attitude. We present a method for classifying decision makers under such pp-additive representations. Our approach extends the classification criterion described by Luce (2010b) to accommodate decision makers with risk attitudes that vary as a function of the decision environment. We present the results of a new decision making under risk experiment designed to evaluate risk attitude. We found that no single pp-additive representation model emerged as the best description of the participants’ preferences. Participants were best described by consistent risk attitudes and risk attitudes that vary as a function of the decision environment in roughly equal numbers.
Journal: Journal of Mathematical Psychology - Volume 57, Issue 6, December 2013, Pages 320–328