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Biases from omitted risk effects in standard gamble utilities

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  • Pope, Robin
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    Article provided by Elsevier in its journal Journal of Health Economics.

    Volume (Year): 23 (2004)
    Issue (Month): 4 (July)
    Pages: 695-735

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    Handle: RePEc:eee:jhecon:v:23:y:2004:i:4:p:695-735

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    Web page: http://www.elsevier.com/locate/inca/505560

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    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.:
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    1. Schoemaker, Paul J H, 1982. "The Expected Utility Model: Its Variants, Purposes, Evidence and Limitations," Journal of Economic Literature, American Economic Association, vol. 20(2), pages 529-63, June.
    2. David E. Bell, 1983. "Risk Premiums for Decision Regret," Management Science, INFORMS, INFORMS, vol. 29(10), pages 1156-1166, October.
    3. Loomes, Graham & Sugden, Robert, 1982. "Regret Theory: An Alternative Theory of Rational Choice under Uncertainty," Economic Journal, Royal Economic Society, Royal Economic Society, vol. 92(368), pages 805-24, December.
    4. Milton Friedman & L. J. Savage, 1948. "The Utility Analysis of Choices Involving Risk," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 56, pages 279.
    5. John C. Hershey & Howard C. Kunreuther & Paul J. H. Schoemaker, 1982. "Sources of Bias in Assessment Procedures for Utility Functions," Management Science, INFORMS, INFORMS, vol. 28(8), pages 936-954, August.
    6. Bleichrodt, Han & Quiggin, John, 1999. "Life-cycle preferences over consumption and health: when is cost-effectiveness analysis equivalent to cost-benefit analysis?," Journal of Health Economics, Elsevier, Elsevier, vol. 18(6), pages 681-708, December.
    7. John C. Hershey & Paul J. H. Schoemaker, 1985. "Probability Versus Certainty Equivalence Methods in Utility Measurement: Are they Equivalent?," Management Science, INFORMS, INFORMS, vol. 31(10), pages 1213-1231, October.
    8. Wulf Albers & Robin Pope & Reinhard Selten & Bodo Vogt, 1999. "Experimental Evidence for Attractions to Chance," Working Papers 317, Bielefeld University, Center for Mathematical Economics.
    9. Langlois, Richard N & Cosgel, Metin M, 1993. "Frank Knight on Risk, Uncertainty, and the Firm: A New Interpretation," Economic Inquiry, Western Economic Association International, Western Economic Association International, vol. 31(3), pages 456-65, July.
    10. Brett Inder & Terry O'Brien, 2003. "The Endowment Effect and the Role of Uncertainty," Bulletin of Economic Research, Wiley Blackwell, vol. 55(3), pages 289-301, 07.
    11. Richardson, J., 1994. "Cost utility analysis: What should be measured?," Social Science & Medicine, Elsevier, Elsevier, vol. 39(1), pages 7-21, July.
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    Cited by:
    1. Pierpaolo Battigalli & Martin Dufwenberg, 2005. "Dynamic Psychological Games," Levine's Bibliography 784828000000000046, UCLA Department of Economics.
    2. Robin Pope & Reinhard Selten, 2009. "Risk and Expected Utility Theory," Bonn Econ Discussion Papers, University of Bonn, Germany bgse5_2009, University of Bonn, Germany.
    3. Frans van Winden & Michal Krawczyk & Astrid Hopfensitz, 2008. "Investment, Resolution of Risk, and the Role of Affect," Tinbergen Institute Discussion Papers 08-047/1, Tinbergen Institute.
    4. Afschin Gandjour, 2008. "Incorporating feelings related to the uncertainty about future health in utility measurement," Health Economics, John Wiley & Sons, Ltd., vol. 17(10), pages 1207-1213.
    5. Robin Pope, 2009. "Risk Starvation Contributes to Dementias and Depressions: Whiffs of Danger Are the Antidote," Bonn Econ Discussion Papers, University of Bonn, Germany bgse9_2009, University of Bonn, Germany.

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