کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
972964 932723 2010 6 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Unbounded probabilistic sophistication
موضوعات مرتبط
مهندسی و علوم پایه ریاضیات ریاضیات کاربردی
پیش نمایش صفحه اول مقاله
Unbounded probabilistic sophistication
چکیده انگلیسی
I extend Machina and Schmeidler's (1992) model of probabilistic sophistication to unbounded uncertain prospects (acts) and derive risk preferences over the induced probability distributions (lotteries) with unbounded support. For example, risk preferences can be derived over normal, exponential, and Poisson families of probability distributions. My extension uses a version of Arrow's (1970) Monotone Continuity, which implies countable additivity for subjective beliefs and a novel property of tail-continuity for the revealed risk preferences. On the other hand, I do not assume P6 (Small Event Continuity) that is used both by Savage (1954) and Machina-Schmeidler.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Mathematical Social Sciences - Volume 60, Issue 2, September 2010, Pages 113-118
نویسندگان
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