Security level, potential level, expected utility: a three-criteria decision model under risk

DOI10.1007/BF00134092zbMath0770.90004MaRDI QIDQ1200529

Michèle Cohen

Publication date: 16 January 1993

Published in: Theory and Decision (Search for Journal in Brave)

zbMATH Keywords

behavior under riskpotential factorsecurity factor

Mathematics Subject Classification ID

Decision theory (91B06) Utility theory (91B16)

Related Items (27)

Risk seeking with diminishing marginal utility in a non-expected utility model ⋮ Piecewise linear rank-dependent utility ⋮ A simple model of cumulative prospect theory ⋮ Choquet expected utility with affine capacities ⋮ When Risk Perception Gets in the Way: Probability Weighting and Underprevention ⋮ Testing constant absolute and relative ambiguity aversion ⋮ Source and rank-dependent utility ⋮ Mixture independence foundations for expected utility ⋮ Separating curvature and elevation: a parametric probability weighting function ⋮ A contextual range-dependent model for choice under risk ⋮ Strategic games beyond expected utility ⋮ Extreme events and entropy: a multiple quantile utility model ⋮ Accounting for optimism and pessimism in expected utility ⋮ The certainty effect and boundary effects with transformed probabilities ⋮ Security and potential level preferences with thresholds ⋮ Choice under uncertainty with the best and worst in mind: Neo-additive capacities ⋮ Underestimation of probabilities modifications: characterization and economic implications ⋮ Ambiguity, pessimism, and rational religious choice ⋮ Strategic games with security and potential level players ⋮ A test of generalized expected utility theory ⋮ Worst-case expected utility ⋮ Piecewise additivity for non-expected utility ⋮ A measurement of the certainty effect ⋮ Choice under risk with certainty and potential effects: a general axiomatic model ⋮ Bayes and Hurwicz without Bernoulli ⋮ A revealed reference point for prospect theory ⋮ Comonotonicity axioms and rank-dependent expected utility theory for arbitrary consequences

Cites Work

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• Some experimental findings on decision making under risk and their implications
• Anticipated utility: A measure representation approach
• Choice under risk and the security factor: an axiomatic model
• A combination of expected utility and maxmin decision criteria
• A Generalization of the Quasilinear Mean with Applications to the Measurement of Income Inequality and Decision Theory Resolving the Allais Paradox
• "Expected Utility" Analysis without the Independence Axiom
• Prospect Theory: An Analysis of Decision under Risk
• The Dual Theory of Choice under Risk
• An Axiomatic Approach to Measurable Utility

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