کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
956564 928475 2015 21 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Subjective independence and concave expected utility
ترجمه فارسی عنوان
استقلال ذهنی و سودآوری احتمالی
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی
When a potential hedge between alternatives does not reduce the exposure to uncertainty, we say that the decision maker considers these alternatives structurally similar. We offer a novel approach and suggest that structural similarity is subjective and should be different across decision makers. Structural similarity can be recovered through a property of the individual's preferences referred to as subjective codecomposable independence. This property characterizes a class of event-separable models and allows us to differentiate between perception of uncertainty and attitude towards it. In addition, our approach provides a behavioral foundation to Concave Expected Utility preferences.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Theory - Volume 158, Part A, July 2015, Pages 33-53
نویسندگان
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