Accounting for optimism and pessimism in expected utility (Q660098): Difference between revisions
From MaRDI portal
Set OpenAlex properties. |
Created claim: Wikidata QID (P12): Q58318706, #quickstatements; #temporary_batch_1711439739529 |
||
Property / Wikidata QID | |||
Property / Wikidata QID: Q58318706 / rank | |||
Normal rank |
Revision as of 10:14, 26 March 2024
scientific article
Language | Label | Description | Also known as |
---|---|---|---|
English | Accounting for optimism and pessimism in expected utility |
scientific article |
Statements
Accounting for optimism and pessimism in expected utility (English)
0 references
25 January 2012
0 references
This paper tackles the problem of characterizing preference relations between lotteries modified by mixing with probabilities centered at the extremes of their supports. Conditions for the representation of a preference by a non-extreme outcome expected utility are established under assumptions like stochastic dominance, Jensen continuity, von Neumann-Morgenstern independence and independence of probability shifts.
0 references
Expected utility
0 references
rank dependent utility
0 references
preference foundation
0 references
prospect theory
0 references