Choice under risk and the security factor: an axiomatic model

DOI10.1007/BF00132460zbMath0631.90005OpenAlexW2003408768MaRDI QIDQ1095016

Jean-Yves Jaffray

Publication date: 1988

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

Full work available at URL: https://doi.org/10.1007/bf00132460

zbMATH Keywords

expected utilityrisk aversionrisk neutralitysecurity level

Mathematics Subject Classification ID

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

Related Items (20)

Risk seeking with diminishing marginal utility in a non-expected utility model ⋮ A simple model of cumulative prospect theory ⋮ Extreme events and entropy: a multiple quantile utility model ⋮ Optimal similarity judgments in intertemporal choice (and beyond) ⋮ 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 ⋮ Recent developments in modeling preferences: Uncertainty and ambiguity ⋮ Security level, potential level, expected utility: a three-criteria decision model under risk ⋮ Additive representations on rank-ordered sets. II: The topological approach ⋮ Some experimental findings on decision making under risk and their implications ⋮ Strategic games with security and potential level players ⋮ 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 ⋮ Artificial intelligence and human decision making ⋮ Comonotonicity axioms and rank-dependent expected utility theory for arbitrary consequences ⋮ An extension of a theorem of von Neumann and Morgenstern with an application to social choice theory

Cites Work

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• “Lottery Equivalents”: Reduction of the Certainty Effect Problem in Utility Assessment
• "Expected Utility" Analysis without the Independence Axiom
• Sources of Bias in Assessment Procedures for Utility Functions
• Changing Tastes and Coherent Dynamic Choice
• Prospect Theory: An Analysis of Decision under Risk
• The Dual Theory of Choice under Risk

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