Testing and Characterizing Properties of Nonadditive Measures through Violations of the Sure-Thing Principle
In expected utility theory, risk attitudes are modeled entirely in terms of utility. In the rank-dependent theories, a new dimension is added: chance attitude, modeled in terms of nonadditive measures or nonlinear probability transformations that are independent of utility. Most empirical studies of...
| Veröffentlicht in: | Econometrica. - Wiley. - 69(2001), 4, Seite 1039-1059 |
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| Format: | Online-Aufsatz |
| Sprache: | English |
| Veröffentlicht: |
2001
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| Zugriff auf das übergeordnete Werk: | Econometrica |
| Schlagworte: | Risk Attitude Rank-Dependent Comonotonic Choquet Expected Utility Prospect Theory Pessimism Optimism Sure-Thing Principle Behavioral sciences Economics mehr... |
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