The Predictive Utility of Generalized Expected Utility Theories
From MaRDI portal
Publication:4319562
DOI10.2307/2951749zbMath0815.90039OpenAlexW2120677542MaRDI QIDQ4319562
David W. Harless, Colin F. Camerer
Publication date: 27 June 1995
Published in: Econometrica (Search for Journal in Brave)
Full work available at URL: https://authors.library.caltech.edu/22132/
prospect theorynon-expected utilityAllais paradoxmaximum-likelihood estimationviolations of expected utility
Related Items
An optimal information acquisition model for competitive advantage in complex multiperspective environments, Economical experiments: Bayesian efficient experimental design, Learning from mistakes: What do inconsistent choices over risk tell us?, Noise and bias in eliciting preferences, Stability of risk preferences and the reflection effect of prospect theory, Gambler's fallacy and imperfect best response in legislative bargaining, The variable frame theory of focal points: An experimental study, Social welfare functions with a reference income, Min- and Max-induced rankings: an experimental study, Learning in the Allais paradox, Cumulative prospect theory's functional menagerie, Recasting a biologically motivated computational model within a Fechnerian and random utility framework, A critical note on salience theory of choice under risk, Indistinguishability of small probabilities, subproportionality, and the common ratio effect, Non-equilibrium play in centipede games, Investigation of stochastic preference theory using experimental data, Is there a plausible theory for decision under risk? A dual calibration critique, Consistent probability attitudes, Violations of betweenness or random errors?, Rejecting small gambles under expected utility, Revealed preferences under uncertainty: incomplete preferences and preferences for randomization, Loss aversion, Revealing a preference for mixtures: An experimental study of risk, Individual differences in the algebraic structure of preferences, Coherence without additivity., Cardinal versus ordinal criteria in choice under risk with disconnected utility ranges, Probabilistic choice and stochastic dominance, Harmonic choice model, Hierarchical Bayesian parameter estimation for cumulative prospect theory, A contextual range-dependent model for choice under risk, Attitudes to ambiguity in one-shot normal-form games: an experimental study, Reformulating decision theory using fuzzy set theory and Shafer's theory of evidence., (Sub) optimality and (non) optimal satisficing in risky decision experiments, Which decision theory?, The ordinal egalitarian bargaining solution for finite choice sets, Measure and integral with purely ordinal scales., Axiomatization of stochastic models for choice under uncertainty, Foresight, risk attitude, and utility maximization in naturalistic sequential high-stakes decision making, Risk behavior for gain, loss, and mixed prospects, Axiomatizing bounded rationality: the priority heuristic, Estimating individual and group preference functionals using experimental data, Relative performance of liability rules: experimental evidence, The certainty effect and boundary effects with transformed probabilities, Security and potential level preferences with thresholds, An experimental investigation of violations of transitivity in choice under uncertainty, A survey of decision making and optimization under uncertainty, Stochastic utility theorem, A second-generation disappointment aversion theory of decision making under risk, Behavior in the centipede game: a decision-theoretical perspective, The effect of the background risk in a simple chance improving decision model, Detecting failures of backward induction: Monitoring information search in sequential bargaining, A Bayesian approach to testing decision making axioms, Probabilistic risk aversion with an arbitrary outcome set, Market failure in light of non-expected utility, Stronger utility, The influence of probabilities on the response mode bias in utility elicitation, Preference reversals: the impact of truth-revealing monetary incentives, Expected utility theory and prospect theory: One wedding and a decent funeral, Error propagation in the elicitation of utility and probability weighting functions, On the statistical foundations of nonlinear utility theory: the case of status quo-dependent preferences., Competence effects for choices involving gains and losses, Stochastic expected utility theory, Equal Tails: A Simple Method to Elicit Utility Under Violations of Expected Utility, Mixture models of choice under risk, Evaluation of similarity models for expected utility violations, Why do people prefer randomisation? An experimental investigation, The beta stochastic utility (β-SU), Modeling viewpoint shifts in probabilistic choice, A resolution of St. Petersburg paradox, From Aggregate Betting Data to Individual Risk Preferences, A measurement of the certainty effect, More mixed results on boundary effects, Probability weighting and the `level' and `spacing' of outcomes: an experimental study over losses, Collective Choice May Tell Nothing About Anyone’s Individual Preferences, Experience-weighted attraction learning in coordination games: Probability rules, heterogeneity, and time-variation, Changing the probability versus changing the reward, An application of Selten's measure of predictive success, Investigating risky choices over losses using experimental data, Comparing theories of one-shot play out of treatment, Intransitive cycles: Rational choice or random error? An answer based on estimation of error rates with experimental data, From uniform expected utility to uniform rank-dependent utility: an experimental study, Modelling the stochastic component of behaviour in experiments: Some issues for the interpretation of data, Why we should not be silent about noise, Regular quantal response equilibrium, An empirical investigation of the assumptions of risk-value models, An experimental comparison of induced and elicited beliefs, Loss averse behavior, Violations of the betweenness axiom and nonlinearity in probability, Choices under ambiguity with familiar and unfamiliar outcomes
