This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Testing between Alternative Models of Choice under Uncertainty: Some Initial Results

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
 Battalio, Raymond C
Kagel, John H
Jiranyakul, Komain

Additional information is available for the following registered author(s):

Abstract

Experiments have identified a number of well-known violations of expected utility theory, giving rise to alternative models of choice under uncertainty, all of which are able to explain these violations. In this article, predictions of several prominent rival formulations are examined. No single alternative consistently organizes choices. Among the more important inconsistencies, we identify conditions generating systematic fanning in or indifference curves in the unit probability triangle, and find risk-loving over a number of gambles with all positive payoffs, in cases where prospect theory predicts risk aversion. Copyright 1990 by Kluwer Academic Publishers

Download Info
To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Publisher Info
Article provided by Springer in its journal Journal of Risk and Uncertainty.

Volume (Year): 3 (1990)
Issue (Month): 1 (March)
Pages: 25-50
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:kap:jrisku:v:3:y:1990:i:1:p:25-50

Contact details of provider:
Web page: http://www.springerlink.com/link.asp?id=100299

For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).

Related research
Keywords:

Other versions of this item:

Cited by:
(explanations, 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. Peter Brooks & Horst Zank, 2005. "Loss Averse Behavior," Journal of Risk and Uncertainty, Springer, vol. 31(3), pages 301-325, December. [Downloadable!] (restricted)
  2. Zvi Safra & Uzi Segal, 2006. "Calibration Results for Non-Expected Utility Theories," Boston College Working Papers in Economics 645, Boston College Department of Economics. [Downloadable!]
    Other versions:
  3. Drew Fudenberg & David K Levine, 2009. "Self Control, Risk Aversion, and the Allais Paradox," Levine's Working Paper Archive 843644000000000332, David K. Levine. [Downloadable!]
  4. Robin Cubitt & Chris Starmer & Robert Sugden, 1998. "On the Validity of the Random Lottery Incentive System," Experimental Economics, Springer, vol. 1(2), pages 115-131, September. [Downloadable!] (restricted)
  5. Seidl, C. & Traub, S., 1996. "Rational choice and the relevance of irrelevant alternatives," Discussion Paper 91, Tilburg University, Center for Economic Research. [Downloadable!]
  6. Matsushita, Raul & Baldo, Dinora & Martin, Bruna & Da Silva, Sergio, 2007. "The biological basis of expected utility anomalies," MPRA Paper 4520, University Library of Munich, Germany. [Downloadable!]
  7. William S. Neilson, 1993. "An Expected Utility-User's Guide to Nonexpected Utility Experiments," Eastern Economic Journal, Eastern Economic Association, vol. 19(3), pages 257-274, Summer. [Downloadable!]
  8. Peter Wakker & Veronika Köbberling & Christiane Schwieren, 2007. "Prospect-theory’s Diminishing Sensitivity Versus Economics’ Intrinsic Utility of Money: How the Introduction of the Euro can be Used to Disentangle the Two Empirically," Theory and Decision, Springer, vol. 63(3), pages 205-231, November. [Downloadable!] (restricted)
  9. Pavlo R. Blavatskyy, . "A Stochastic Expected Utility Theory," IEW - Working Papers iewwp231, Institute for Empirical Research in Economics - IEW. [Downloadable!]
  10. Benjamin Y. Hayden & Sarah R. Heilbronner & Amrita C. Nair & Michael L. Platt, 2008. "Cognitive influences on risk-seeking by rhesus macaques," Judgment and Decision Making, Society for Judgment and Decision Making, vol. 3, pages 389-395, June. [Downloadable!]
  11. Lise Vesterlund & Bill Harbaugh & Kate Krause, 2005. "The Fourfold Pattern of Risk Attitudes in Choice and Pricing Tasks," Working Papers 268, University of Pittsburgh, Department of Economics, revised Jan 2005.
  12. Jeremy Clark, 2002. "House Money Effects in Public Good Experiments," Experimental Economics, Springer, vol. 5(3), pages 223-231, December. [Downloadable!] (restricted)
  13. Lucy Ackert & Narat Charupat & Bryan Church & Richard Deaves, 2006. "An experimental examination of the house money effect in a multi-period setting," Experimental Economics, Springer, vol. 9(1), pages 5-16, April. [Downloadable!] (restricted)
    Other versions:
  14. Julio J. Rotemberg, 2006. "Minimally acceptable altruism and the ultimatum game," Working Papers 06-12, Federal Reserve Bank of Boston. [Downloadable!]
    Other versions:
  15. Horst Zank, 2007. "On the Paradigm of Loss Aversion," The School of Economics Discussion Paper Series 0710, Economics, The University of Manchester. [Downloadable!]
  16. Pavlo R. Blavatskyy, . "Axiomatization of a Preference for Most Probable Winner," IEW - Working Papers iewwp230, Institute for Empirical Research in Economics - IEW. [Downloadable!]
  17. Zvi Safra & Uzi Segal, 2005. "Are Universal Preferences Possible? Calibration Results for Non-Expected Utility Theories," Boston College Working Papers in Economics 633, Boston College Department of Economics. [Downloadable!]
  18. Serge Blondel, 2002. "Testing Theories of Choice Under Risk: Estimation of Individual Functionals," Journal of Risk and Uncertainty, Springer, vol. 24(3), pages 251-265, May. [Downloadable!] (restricted)
  19. Matthew Rabin & Georg Weizsäcker, 2007. "Narrow Bracketing and Dominated Choices," IZA Discussion Papers 3040, Institute for the Study of Labor (IZA). [Downloadable!]
  20. Pavlo Blavatskyy, 2007. "Stochastic expected utility theory," Journal of Risk and Uncertainty, Springer, vol. 34(3), pages 259-286, June. [Downloadable!] (restricted)
  21. E. Elisabet Rutstrom & Glenn W. Harrison & Morten I. Lau, 2004. "Estimating Risk Attitudes in Denmark," Econometric Society 2004 Australasian Meetings 201, Econometric Society. [Downloadable!]
  22. Bruno S. Frey, . "Knight Fever towards an Economics of Awards," IEW - Working Papers iewwp239, Institute for Empirical Research in Economics - IEW. [Downloadable!]
    Other versions:
Statistics
Access and download statistics

Did you know? There are over 21000 authors registered on RePEc Author Service.

This page was last updated on 2009-11-7.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.