Calibration Results for Non-Expected Utility Theories
Rabin (2000) proved that a low level of risk aversion with respect to small gambles leads to a high, and absurd, level of risk aversion with respect to large gambles. Rabin's arguments strongly depend on expected utility theory, but we show that similar arguments apply to general non-expected u...
| Veröffentlicht in: | Econometrica. - Wiley. - 76(2008), 5, Seite 1143-1166 |
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| Format: | Online-Aufsatz |
| Sprache: | English |
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2008
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| Zugriff auf das übergeordnete Werk: | Econometrica |
| Schlagworte: | Risk aversion calibration non-expected utility theories Economics Behavioral sciences Mathematics Applied sciences |
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