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Social context and the utility of wealth: Addressing the Markowitz challenge

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Author Info
Coelho, Philip R. P.
McClure, James E.

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Article provided by Elsevier in its journal Journal of Economic Behavior & Organization.

Volume (Year): 37 (1998)
Issue (Month): 3 (November)
Pages: 305-314
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Handle: RePEc:eee:jeborg:v:37:y:1998:i:3:p:305-314

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Rogers, Alan R, 1994. "Evolution of Time Preference by Natural Selection," American Economic Review, American Economic Association, vol. 84(3), pages 460-81, June. [Downloadable!] (restricted)
  2. Gary S. Becker, 1974. "A Theory of Social Interactions," NBER Working Papers 0042, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
    Other versions:
  3. Safra, Zvi & Segal, Uzi & Spivak, Avia, 1990. "Preference Reversal and Nonexpected Utility Behavior," American Economic Review, American Economic Association, vol. 80(4), pages 923-30, September.
  4. Fishburn, Peter C., 1983. "Transitive measurable utility," Journal of Economic Theory, Elsevier, vol. 31(2), pages 293-317, December. [Downloadable!] (restricted)
  5. Fershtman, Chaim & Weiss, Yoram, 1993. "Social Status, Culture and Economic Performance," Economic Journal, Royal Economic Society, vol. 103(419), pages 946-59, July. [Downloadable!] (restricted)
    Other versions:
  6. Hey, John D & Orme, Chris, 1994. "Investigating Generalizations of Expected Utility Theory Using Experimental Data," Econometrica, Econometric Society, vol. 62(6), pages 1291-1326, November. [Downloadable!] (restricted)
  7. Milton Friedman & L. J. Savage, 1948. "The Utility Analysis of Choices Involving Risk," Journal of Political Economy, University of Chicago Press, vol. 56, pages 279. [Downloadable!] (restricted)
  8. Karni, Edi & Safra, Zvi, 1990. "Rank-Dependent Probabilities," Economic Journal, Royal Economic Society, vol. 100(401), pages 487-95, June. [Downloadable!] (restricted)
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  9. Machina, Mark J, 1982. ""Expected Utility" Analysis without the Independence Axiom," Econometrica, Econometric Society, vol. 50(2), pages 277-323, March. [Downloadable!] (restricted)
  10. Jack Hirshleifer, 1978. "Natural Economy Versus Political Economy," UCLA Economics Working Papers 114, UCLA Department of Economics. [Downloadable!]
  11. Jack Hirshleifer, 1977. "Economics from a Biological Viewpoint," UCLA Economics Working Papers 087, UCLA Department of Economics. [Downloadable!]
  12. Flemming, J S, 1969. "The Utility of Wealth and the Utility of Windfalls," Review of Economic Studies, Blackwell Publishing, vol. 36(105), pages 55-66, January. [Downloadable!] (restricted)
  13. Karni, Edi & Schmeidler, David, 1986. "Self-preservation as a foundation of rational behavior under risk," Journal of Economic Behavior & Organization, Elsevier, vol. 7(1), pages 71-81, March. [Downloadable!] (restricted)
  14. Waldman, Michael, 1994. "Systematic Errors and the Theory of Natural Selection," American Economic Review, American Economic Association, vol. 84(3), pages 482-97, June. [Downloadable!] (restricted)
  15. MacDonald, Don N & Kagel, John H & Battalio, Raymond C, 1991. "Animals' Choices over Uncertain Outcomes: Further Experimental Results," Economic Journal, Royal Economic Society, vol. 101(408), pages 1067-84, September. [Downloadable!] (restricted)
  16. Conlisk, John, 1989. "Three Variants on the Allais Example," American Economic Review, American Economic Association, vol. 79(3), pages 392-407, June. [Downloadable!] (restricted)
  17. Eden, Benjamin, 1979. "On aversion to positive risks and preference for negative risks," Economics Letters, Elsevier, vol. 4(2), pages 125-129. [Downloadable!] (restricted)
  18. Quiggin, John, 1982. "A theory of anticipated utility," Journal of Economic Behavior & Organization, Elsevier, vol. 3(4), pages 323-343, December. [Downloadable!] (restricted)
  19. Frank, Robert H, 1985. "The Demand for Unobservable and Other Nonpositional Goods," American Economic Review, American Economic Association, vol. 75(1), pages 101-16, March. [Downloadable!] (restricted)
  20. Machina, Mark J, 1987. "Choice under Uncertainty: Problems Solved and Unsolved," Journal of Economic Perspectives, American Economic Association, vol. 1(1), pages 121-54, Summer. [Downloadable!] (restricted)
  21. Hirshleifer, Jack, 1977. "Economics from a Biological Viewpoint," Journal of Law & Economics, University of Chicago Press, vol. 20(1), pages 1-52, April.
  22. Jack Hirshleifer, 1978. "Natural Economy Versus Political Economy," UCLA Economics Working Papers 129, UCLA Department of Economics. [Downloadable!]
  23. Basu, Kaushik, 1989. "A Theory of Association: Social Status, Prices and Markets," Oxford Economic Papers, Oxford University Press, vol. 41(4), pages 653-71, October. [Downloadable!] (restricted)
  24. Shlomo Benartzi & Richard H. Thaler, 1993. "Myopic Loss Aversion and the Equity Premium Puzzle," NBER Working Papers 4369, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  25. Robson, Arthur J, 1992. "Status, the Distribution of Wealth, Private and Social Attitudes to Risk," Econometrica, Econometric Society, vol. 60(4), pages 837-57, July. [Downloadable!] (restricted)
  26. Chew, Soo Hong, 1983. "A Generalization of the Quasilinear Mean with Applications to the Measurement of Income Inequality and Decision Theory Resolving the Allais Paradox," Econometrica, Econometric Society, vol. 51(4), pages 1065-92, July. [Downloadable!] (restricted)
  27. Harless, David W & Camerer, Colin F, 1994. "The Predictive Utility of Generalized Expected Utility Theories," Econometrica, Econometric Society, vol. 62(6), pages 1251-89, November. [Downloadable!] (restricted)
  28. Landsberger, Michael & Meilijson, Isaac, 1990. "Lotteries, insurance, and star-shaped utility functions," Journal of Economic Theory, Elsevier, vol. 52(1), pages 1-17, October. [Downloadable!] (restricted)
  29. Harry Markowitz, 1952. "The Utility of Wealth," Journal of Political Economy, University of Chicago Press, vol. 60, pages 151. [Downloadable!] (restricted)
  30. Rubin, Paul H & Paul, Chris W, II, 1979. "An Evolutionary Model of Taste for Risk," Economic Inquiry, Oxford University Press, vol. 17(4), pages 585-96, October.
  31. Friedman, Daniel, 1989. "The S-Shaped Value Function as a Constrained Optimum," American Economic Review, American Economic Association, vol. 79(5), pages 1243-48, December. [Downloadable!] (restricted)
  32. Coelho, Philip R P & McClure, James E, 1993. "Toward an Economic Theory of Fashion," Economic Inquiry, Oxford University Press, vol. 31(4), pages 595-608, October.
  33. Viscusi, W Kip, 1989. " Prospective Reference Theory: Toward an Explanation of the Paradoxes," Journal of Risk and Uncertainty, Springer, vol. 2(3), pages 235-63, September.
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  1. Rick Harbaugh & Tatiana Kornienko, 2000. "Local Status and Prospect Theory," Claremont Colleges Working Papers 2000-38, Claremont Colleges. [Downloadable!]
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