کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
956848 928494 2015 24 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Hurwicz expected utility and subjective sources
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Hurwicz expected utility and subjective sources
چکیده انگلیسی

In experiments, subjects are often not indifferent among all sources of uncertainty; between two prospects yielding the same distribution of monetary rewards, they may strictly prefer one over the other. We formulate a special case of α-maxmin expected utility theory in a Savage setting, show that every decision maker perceives multiple subjective sources, and that source-utilities are rank dependent expected utility. A power series identifies each source, measures source-uncertainty, and determines the agent's source-specific risk attitude. Subjective sources relate Ellsberg-paradox behavior to source preference and to Allais-paradox behavior.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Theory - Volume 159, Part A, September 2015, Pages 465–488
نویسندگان
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