Separating marginal utility and probabilistic risk aversion
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Publication:1315454
DOI10.1007/BF01075296zbMath0812.90010OpenAlexW2080724357MaRDI QIDQ1315454
Publication date: 15 May 1995
Published in: Theory and Decision (Search for Journal in Brave)
Full work available at URL: https://doi.org/10.1007/bf01075296
risk aversiontradeoff consistencyrank dependent utilitymarginal utilityabsence of contradictory tradeoffs'probabilistic risk aversion
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Introduction to the special issue in honor of Peter Wakker ⋮ Composition rules in original and cumulative prospect theory ⋮ Risk seeking with diminishing marginal utility in a non-expected utility model ⋮ Ambiguity aversion in first-price sealed-bid auctions ⋮ Modeling attitudes towards uncertainty and risk through the use of Choquet integral ⋮ A note on Wakker's cardinal coordinate independence ⋮ Comonotonic independence: The critical test between classical and rank- dependent utility theories ⋮ Piecewise linear rank-dependent utility ⋮ On the precautionary motive for savings and prudence in the rank-dependent utility framework ⋮ A parametric analysis of prospect theory's functionals for the general population ⋮ Risk aversion in RDEU ⋮ From sure to strong diversification ⋮ The comonotonic sure-thing principle ⋮ On games under expected utility with rank dependent probabilities ⋮ Endogenous fixprices and sticky price adjustment of risk-averse firms ⋮ Comparative risk aversion in RDEU with applications to optimal underwriting of securities issuance ⋮ Consistent probability attitudes ⋮ A powerful tool for analyzing concave/convex utility and weighting functions ⋮ Measuring time and risk preferences in an integrated framework ⋮ Static portfolio choice under cumulative prospect theory ⋮ Reference dependence in cumulative prospect theory. ⋮ Cautious stochastic choice, optimal stopping and deliberate randomization ⋮ Source and rank-dependent utility ⋮ Using Choquet integral in economics ⋮ A nonsmooth approach to nonexpected utility theory under risk ⋮ Bargaining with subjective mixtures ⋮ Half-full or half-empty? A model of decision making under risk ⋮ Separating curvature and elevation: a parametric probability weighting function ⋮ Interval scalability of rank-dependent utility ⋮ A rank-dependent generalization of zero utility principle. ⋮ Advances in Prospect Theory: Cumulative Representation of Uncertainty ⋮ Do bets reveal beliefs? A unified perspective on state-dependent utility issues ⋮ On mechanisms eliciting ordinal preferences ⋮ Local risk aversion in the rank dependent expected utility model: first order versus second order effects ⋮ Risk Aversion in Travel Mode Choice with Rank-Dependent Utility ⋮ Risk Perception, Risk Attitude, and Decision: A Rank-Dependent Analysis ⋮ Accounting for optimism and pessimism in expected utility ⋮ On the use of capacities in modeling uncertainty aversion and risk aversion ⋮ Portfolio selection with hyperexponential utility functions ⋮ Concave/convex weighting and utility functions for risk: a new light on classical theorems ⋮ Utilitarianism with and without expected utility ⋮ Randomized strategies and prospect theory in a dynamic context ⋮ A theory of (relative) discounting ⋮ Advances in prospect theory: cumulative representation of uncertainty ⋮ On probabilities and loss aversion ⋮ On some ordinal models for decision making under uncertainty ⋮ An index of loss aversion ⋮ Decision-foundations for properties of nonadditive measures: general state spaces or general outcome spaces ⋮ When does aggregation reduce risk aversion? ⋮ A new axiomatization of rank-dependent expected utility with tradeoff consistency for equally likely outcomes ⋮ Rank-dependent preferences without ranking axioms ⋮ The behavioural components of risk aversion ⋮ Intertemporal choice under timing risk: an experimental approach ⋮ Robustness regions for measures of risk aggregation ⋮ REALISTIC UTILITY VERSUS GAME UTILITY: A PROPOSAL FOR DEALING WITH THE SPREAD OF UNCERTAIN PROSPECTS ⋮ Parametric weighting functions ⋮ The sure-thing principle and the comonotonic sure-thing principle: An axiomatic analysis ⋮ A measurement of the certainty effect ⋮ Constant risk aversion ⋮ The effects of beliefs versus risk attitude on bargaining outcomes ⋮ Associative joint receipts ⋮ Decomposable capacities, distorted probabilities and concave capacities ⋮ Additive Consistency of Risk Measures and Its Application to Risk-Averse Routing in Networks ⋮ Probability weighting and the `level' and `spacing' of outcomes: an experimental study over losses ⋮ A revealed reference point for prospect theory ⋮ On the consensus effect ⋮ Uncertainty aversion and aversion to increasing uncertainty ⋮ Delayed probabilistic risk attitude: a parametric approach ⋮ A unified derivation of classical subjective expected utility models through cardinal utility ⋮ Comonotonicity axioms and rank-dependent expected utility theory for arbitrary consequences ⋮ Special issue on Practical implications of basic research on uncertainty and utility ⋮ Quality-adjusted life years (QALY) utility models under expected utility and rank dependent utility assumptions ⋮ From uniform expected utility to uniform rank-dependent utility: an experimental study ⋮ Equilibrium routing under uncertainty ⋮ Coherent odds and subjective probability ⋮ Loss averse behavior
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