Advanced Search
MyIDEAS: Login to save this paper or follow this series

Nonexpected Utility and Coherence

Contents:

Author Info

  • Diecidue, E.

    (Tilburg University)

Registered author(s):

    Abstract

    The descriptive power of expected utility has been challenged by behavioral evidence showing that people deviate systematically from the expected utility paradigm. Since the end of the 70's several alternatives to the classical expected utility paradigm have been proposed in order to accommodate these deviations. This thesis examines from a theoretical and experimental point of view the rank-dependent models, currently the most influential alternative to expected utility. The rank-dependent models propose a natural extension of expected utility by permitting nonlinear weighting of probabilities through decision weights. This thesis investigates the intuition underlying the rank-dependent models, the extension of de Finetti's coherence principle to the rank-dependent case, and the experimental elicitation of the decision weights. In addition, an alternative generalization of expected utility, the gambling effect model, is presented.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://arno.uvt.nl/show.cgi?fid=76044
    Our checks indicate that this address may not be valid because: 404 Not Found. If this is indeed the case, please notify (Economists Online Support)
    Download Restriction: no

    Bibliographic Info

    Paper provided by Tilburg University in its series Open Access publications from Tilburg University with number urn:nbn:nl:ui:12-87265.

    as in new window
    Length: 133
    Date of creation: 2001
    Date of revision:
    Publication status: Published
    Handle: RePEc:ner:tilbur:urn:nbn:nl:ui:12-87265

    Note: Dissertation
    Contact details of provider:
    Web page: http://www.tilburguniversity.edu/

    Related research

    Keywords:

    References

    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.:
    as in new window
    1. Neuefeind, Wilhelm & Trockel, Walter, 1995. "Continuous Linear Representability of Binary Relations," Economic Theory, Springer, vol. 6(2), pages 351-56, July.
    2. repec:ubc:bricol:90-03 is not listed on IDEAS
    3. repec:ubc:bricol:93-39 is not listed on IDEAS
    4. repec:ubc:bricol:92-04 is not listed on IDEAS
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:ner:tilbur:urn:nbn:nl:ui:12-87265. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Economists Online Support).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.