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Testing and Characterizing Properties of Nonadditive Measures through Violations of the Sure-Thing Principle

Citations

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Cited by:

  1. Ralph W. Bailey & Jürgen Eichberger & David Kelsey, 2005. "Ambiguity and Public Good Provision in Large Societies," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 7(5), pages 741-759, December.
  2. Vinogradov, Dmitri, 2012. "Destructive effects of constructive ambiguity in risky times," Journal of International Money and Finance, Elsevier, vol. 31(6), pages 1459-1481.
  3. Stephan Jagau & Theo Offerman, 2018. "Defaults, normative anchors, and the occurrence of risky and cautious shifts," Journal of Risk and Uncertainty, Springer, vol. 56(3), pages 211-236, June.
  4. Matthew D. Rablen, 2023. "Loss Aversion, Risk Aversion, and the Shape of the Probability Weighting Function," Working Papers 2023013, The University of Sheffield, Department of Economics.
  5. Chateauneuf, Alain & Eichberger, Jurgen & Grant, Simon, 2007. "Choice under uncertainty with the best and worst in mind: Neo-additive capacities," Journal of Economic Theory, Elsevier, vol. 137(1), pages 538-567, November.
  6. Jürgen Eichberger & David Kelsey & Burkhard C. Schipper, 2009. "Ambiguity and social interaction," Oxford Economic Papers, Oxford University Press, vol. 61(2), pages 355-379, April.
  7. Mohammed Abdellaoui & Olivier L’Haridon & Horst Zank, 2010. "Separating curvature and elevation: A parametric probability weighting function," Journal of Risk and Uncertainty, Springer, vol. 41(1), pages 39-65, August.
  8. Eichberger, Jurgen & Grant, Simon & Kelsey, David, 2007. "Updating Choquet beliefs," Journal of Mathematical Economics, Elsevier, vol. 43(7-8), pages 888-899, September.
  9. Gérard Mondello, 2022. "Information Source's Reliability," GREDEG Working Papers 2022-21, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France, revised Oct 2022.
  10. Kfir Eliaz & Debraj Ray & Ronny Razin, 2006. "Choice Shifts in Groups: A Decision-Theoretic Basis," American Economic Review, American Economic Association, vol. 96(4), pages 1321-1332, September.
  11. Peter Brooks & Simon Peters & Horst Zank, 2014. "Risk behavior for gain, loss, and mixed prospects," Theory and Decision, Springer, vol. 77(2), pages 153-182, August.
  12. Burkhard C. Schipper, 2021. "The evolutionary stability of optimism, pessimism, and complete ignorance," Theory and Decision, Springer, vol. 90(3), pages 417-454, May.
  13. David Dillenberger & Andrew Postlewaite & Kareen Rozen, 2011. "Optimism and Pessimism with Expected Utility, Third Version," PIER Working Paper Archive 13-001, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 26 Dec 2012.
  14. Hill, Brian, 2009. "Confidence and ambiguity," HEC Research Papers Series 914, HEC Paris.
  15. Huber, Stefanie J. & Schmidt, Tobias, 2022. "Nevertheless, they persist: Cross-country differences in homeownership behavior," Journal of Housing Economics, Elsevier, vol. 55(C).
  16. Nicky Nicholls & Aylit Romm & Alexander Zimper, 2015. "The impact of statistical learning on violations of the sure-thing principle," Journal of Risk and Uncertainty, Springer, vol. 50(2), pages 97-115, April.
  17. Xuekang Zhang & Shounian Deng & Weiyin Fei, 2023. "Nonparametric Estimation of Trend for Stochastic Processes Driven by G-Brownian Motion with Small Noise," Methodology and Computing in Applied Probability, Springer, vol. 25(2), pages 1-14, June.
  18. Katarzyna M. Werner & Horst Zank, 2019. "A revealed reference point for prospect theory," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 67(4), pages 731-773, June.
  19. Craig Webb, 2015. "Piecewise additivity for non-expected utility," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 60(2), pages 371-392, October.
  20. Zimper, Alexander, 2012. "Asset pricing in a Lucas fruit-tree economy with the best and worst in mind," Journal of Economic Dynamics and Control, Elsevier, vol. 36(4), pages 610-628.
  21. Horst Zank, 2007. "On the Paradigm of Loss Aversion," Economics Discussion Paper Series 0710, Economics, The University of Manchester.
  22. Mohammed Abdellaoui & Frank Vossmann & Martin Weber, 2005. "Choice-Based Elicitation and Decomposition of Decision Weights for Gains and Losses Under Uncertainty," Management Science, INFORMS, vol. 51(9), pages 1384-1399, September.
  23. Diecidue, Enrico & Schmidt, Ulrich & Zank, Horst, 2009. "Parametric weighting functions," Journal of Economic Theory, Elsevier, vol. 144(3), pages 1102-1118, May.
  24. Alexander Zimper, 2011. "Re-examining the law of iterated expectations for Choquet decision makers," Theory and Decision, Springer, vol. 71(4), pages 669-677, October.
  25. Mohammed Abdellaoui & Horst Zank, 2023. "Source and rank-dependent utility," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 75(4), pages 949-981, May.
  26. Alexander Ludwig & Alexander Zimper, 2013. "A decision-theoretic model of asset-price underreaction and overreaction to dividend news," Annals of Finance, Springer, vol. 9(4), pages 625-665, November.
  27. Tarik Driouchi & Lenos Trigeorgis & Raymond H. Y. So, 2018. "Option implied ambiguity and its information content: Evidence from the subprime crisis," Annals of Operations Research, Springer, vol. 262(2), pages 463-491, March.
  28. Wu, Yinglu & Wu, Jianan, 2016. "The Impact of User Review Volume on Consumers' Willingness-to-Pay: A Consumer Uncertainty Perspective," Journal of Interactive Marketing, Elsevier, vol. 33(C), pages 43-56.
  29. repec:ipg:wpaper:29 is not listed on IDEAS
  30. Aouani, Zaier & Chateauneuf, Alain & Ventura, Caroline, 2021. "Propensity for hedging and ambiguity aversion," Journal of Mathematical Economics, Elsevier, vol. 97(C).
  31. Wang, Tan, 2003. "Conditional preferences and updating," Journal of Economic Theory, Elsevier, vol. 108(2), pages 286-321, February.
  32. Casaca, Paulo & Chateauneuf, Alain & Faro, José Heleno, 2014. "Ignorance and competence in choices under uncertainty," Journal of Mathematical Economics, Elsevier, vol. 54(C), pages 143-150.
  33. A. Zapata & A. M. Mármol & L. Monroy & M. A. Caraballo, 2019. "A Maxmin Approach for the Equilibria of Vector-Valued Games," Group Decision and Negotiation, Springer, vol. 28(2), pages 415-432, April.
  34. Jürgen Eichberger & David Kelsey, 2014. "Optimism And Pessimism In Games," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 55(2), pages 483-505, May.
  35. Jürgen Eichberger & David Kelsey, 2011. "Are the treasures of game theory ambiguous?," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 48(2), pages 313-339, October.
  36. Webb, Craig S. & Zank, Horst, 2011. "Accounting for optimism and pessimism in expected utility," Journal of Mathematical Economics, Elsevier, vol. 47(6), pages 706-717.
  37. Alexander Zimper & Alexander Ludwig, 2006. "Rational expectations and ambiguity: A comment on Abel (2002)," Economics Bulletin, AccessEcon, vol. 4(2), pages 1-15.
  38. Birnbaum, Michael H., 2007. "Tests of branch splitting and branch-splitting independence in Allais paradoxes with positive and mixed consequences," Organizational Behavior and Human Decision Processes, Elsevier, vol. 102(2), pages 154-173, March.
  39. Fontini, Fulvio & Umgiesser, Georg & Vergano, Lucia, 2010. "The role of ambiguity in the evaluation of the net benefits of the MOSE system in the Venice lagoon," Ecological Economics, Elsevier, vol. 69(10), pages 1964-1972, August.
  40. Jürgen Eichberger & David Kelsey & Burkhard C. Schipper, 2009. "Ambiguity and social interaction," Oxford Economic Papers, Oxford University Press, vol. 61(2), pages 355-379, April.
  41. Chen, Zengjing & Kulperger, Reg, 2006. "Minimax pricing and Choquet pricing," Insurance: Mathematics and Economics, Elsevier, vol. 38(3), pages 518-528, June.
  42. Mohammed Abdellaoui & Olivier L'Haridon & Corina Paraschiv, 2011. "Experienced vs. Described Uncertainty: Do We Need Two Prospect Theory Specifications?," Management Science, INFORMS, vol. 57(10), pages 1879-1895, October.
  43. Luca Rigotti & Matthew Ryan & Rhema Vaithianathan, 2011. "Optimism and firm formation," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 46(1), pages 1-38, January.
  44. A. Ludwig & A. Zimper, 2013. "A parsimonious model of subjective life expectancy," Theory and Decision, Springer, vol. 75(4), pages 519-541, October.
  45. David Dillenberger & Andrew Postlewaite & Kareen Rozen, 2013. "Optimism and Pessimism with Expected Utility, Fifth Version," PIER Working Paper Archive 15-009, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 23 Feb 2015.
  46. Francesco Cesarone & Massimiliano Corradini & Lorenzo Lampariello & Jessica Riccioni, 2023. "A new behavioral model for portfolio selection using the Half-Full/Half-Empty approach," Papers 2312.10749, arXiv.org.
  47. Jouini, Elyès & Napp, Clotilde, 2015. "Gurus and belief manipulation," Economic Modelling, Elsevier, vol. 49(C), pages 11-18.
  48. Alexander Zimper & Alexander Ludwig, 2009. "On attitude polarization under Bayesian learning with non-additive beliefs," Journal of Risk and Uncertainty, Springer, vol. 39(2), pages 181-212, October.
  49. Alexander Zimper, 2011. "Do Bayesians Learn Their Way Out of Ambiguity?," Decision Analysis, INFORMS, vol. 8(4), pages 269-285, December.
  50. Bommier, Antoine, 2017. "A dual approach to ambiguity aversion," Journal of Mathematical Economics, Elsevier, vol. 71(C), pages 104-118.
  51. Eichberger, Jürgen & Grant, Simon & Lefort, Jean-Philippe, 2008. "Neo-additive capacities and updating," Sonderforschungsbereich 504 Publications 08-31, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
  52. Dean, Mark & Ortoleva, Pietro, 2017. "Allais, Ellsberg, and preferences for hedging," Theoretical Economics, Econometric Society, vol. 12(1), January.
  53. Ludwig, Alexander & Zimper, Alexander, 2006. "Investment behavior under ambiguity: The case of pessimistic decision makers," Mathematical Social Sciences, Elsevier, vol. 52(2), pages 111-130, September.
  54. Dominiak, Adam & Lee, Min Suk, 2017. "Coherent Dempster–Shafer equilibrium and ambiguous signals," Journal of Mathematical Economics, Elsevier, vol. 68(C), pages 42-54.
  55. Horst Zank, 2010. "Consistent probability attitudes," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 44(2), pages 167-185, August.
  56. Eichberger, Jürgen & Kelsey, David, 2007. "Ambiguity," Papers 07-50, Sonderforschungsbreich 504.
  57. repec:dau:papers:123456789/1051 is not listed on IDEAS
  58. repec:dau:papers:123456789/7332 is not listed on IDEAS
  59. Wakker, Peter P., 2005. "Decision-foundations for properties of nonadditive measures: general state spaces or general outcome spaces," Games and Economic Behavior, Elsevier, vol. 50(1), pages 107-125, January.
  60. repec:ipg:wpaper:2013-029 is not listed on IDEAS
  61. Ryan, Matthew J., 2006. "Risk aversion in RDEU," Journal of Mathematical Economics, Elsevier, vol. 42(6), pages 675-697, September.
  62. Horst Zank, 2010. "On probabilities and loss aversion," Theory and Decision, Springer, vol. 68(3), pages 243-261, March.
  63. Ludwig, Alexander & Zimper, Alexander, 2007. "Attitude polarization," Papers 07-66, Sonderforschungsbreich 504.
  64. Dlugosch, Dennis & Horn, Kristian & Wang, Mei, 2023. "New experimental evidence on the relationship between home bias, ambiguity aversion and familiarity heuristics," Journal of Economics and Business, Elsevier, vol. 125.
  65. Chauvin Pauline & Tabo Augustin & Chopard Bertrand, 2020. "The Role of Optimism and Pessimism in the Substitution Between Primary and Secondary Health Prevention Efforts," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 20(1), pages 1-6, January.
  66. Zimper, Alexander, 2009. "Half empty, half full and why we can agree to disagree forever," Journal of Economic Behavior & Organization, Elsevier, vol. 71(2), pages 283-299, August.
  67. Dominiak, Adam & Eichberger, Jürgen & Lefort, Jean-Philippe, 2012. "Agreeable trade with optimism and pessimism," Mathematical Social Sciences, Elsevier, vol. 64(2), pages 119-126.
  68. repec:awi:wpaper:0448 is not listed on IDEAS
  69. Amparo M. Mármol & Luisa Monroy & M. Ángeles Caraballo & Asunción Zapata, 2017. "Equilibria with vector-valued utilities and preference information. The analysis of a mixed duopoly," Theory and Decision, Springer, vol. 83(3), pages 365-383, October.
  70. W. J. Wouter Botzen & Jeroen C.J.M. van den Bergh, 2009. "Bounded Rationality, Climate Risks, and Insurance: Is There a Market for Natural Disasters?," Land Economics, University of Wisconsin Press, vol. 85(2), pages 265-278.
  71. Jing Peng & Pengyu Wei & Zuo Quan Xu, 2022. "Relative growth rate optimization under behavioral criterion," Papers 2211.05402, arXiv.org.
  72. Massimo Guidolin & Francesca Rinaldi, 2013. "Ambiguity in asset pricing and portfolio choice: a review of the literature," Theory and Decision, Springer, vol. 74(2), pages 183-217, February.
  73. Alexander Ludwig & Alexander Zimper, 2004. "Rational Expectations and Ambiguity: A Comment on Abel," MEA discussion paper series 04066, Munich Center for the Economics of Aging (MEA) at the Max Planck Institute for Social Law and Social Policy.
  74. Hammond, Peter J & Zank, Horst, 2013. "Rationality and Dynamic Consistency under Risk and Uncertainty," The Warwick Economics Research Paper Series (TWERPS) 1033, University of Warwick, Department of Economics.
  75. Katarzyna Werner & Horst Zank, 2012. "Foundations for Prospect Theory Through Probability Midpoint Consistency," Economics Discussion Paper Series 1210, Economics, The University of Manchester.
  76. Alexander Zimper, 2008. "Asset pricing in a Lucas ‘fruit-tree’ economy with non-additive beliefs," Working Papers 092, Economic Research Southern Africa.
  77. Craig S. Webb, 2017. "Purely subjective variational preferences," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(1), pages 121-137, June.
  78. Víctor González-Jiménez, 2021. "Incentive contracts when agents distort probabilities," Vienna Economics Papers vie2101, University of Vienna, Department of Economics.
  79. Francisco Estrada & Carlos Gay & Cecilia Conde, 2012. "A methodology for the risk assessment of climate variability and change under uncertainty. A case study: coffee production in Veracruz, Mexico," Climatic Change, Springer, vol. 113(2), pages 455-479, July.
  80. repec:ebl:ecbull:v:4:y:2006:i:2:p:1-15 is not listed on IDEAS
  81. Adam Dominiak & Wendelin Schnedler, 2011. "Attitudes toward uncertainty and randomization: an experimental study," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 48(2), pages 289-312, October.
  82. Chakravarty, Surajeet & Kelsey, David, 2015. "Sharing ambiguous risks," Journal of Mathematical Economics, Elsevier, vol. 56(C), pages 1-8.
  83. Esponda, Ignacio & Vespa, Emanuel, 2023. "Contingent Thinking and the Sure-Thing Principle: Revisiting Classic Anomalies in the Laboratory#," University of California at San Diego, Economics Working Paper Series qt32j4d5z2, Department of Economics, UC San Diego.
  84. Mark J. Machina, 2009. "Risk, Ambiguity, and the Rank-Dependence Axioms," American Economic Review, American Economic Association, vol. 99(1), pages 385-392, March.
  85. Dumav, Martin & Stinchcombe, Maxwell B., 2014. "The von Neumann/Morgenstern approach to ambiguity," Center for Mathematical Economics Working Papers 480, Center for Mathematical Economics, Bielefeld University.
  86. Nicolas Lampach & Sandrine Spaeter, 2016. "The Efficiency of (strict) Liability Rules revised in Risk and Ambiguity," Working Papers of BETA 2016-29, Bureau d'Economie Théorique et Appliquée, UDS, Strasbourg.
  87. Dominiak, Adam & Lefort, Jean-Philippe, 2015. "“Agreeing to disagree” type results under ambiguity," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 119-129.
  88. J L Ford & David Kelsey & W Pang, 2005. "Ambiguity in Financial Markets: Herding and Contrarian Behaviour," Discussion Papers 05-11, Department of Economics, University of Birmingham.
  89. Dilip Madan & Martijn Pistorius & Mitja Stadje, 2013. "On dynamic spectral risk measures, a limit theorem and optimal portfolio allocation," Papers 1301.3531, arXiv.org, revised Apr 2017.
  90. Kozhan, Roman & Salmon, Mark, 2009. "Uncertainty aversion in a heterogeneous agent model of foreign exchange rate formation," Journal of Economic Dynamics and Control, Elsevier, vol. 33(5), pages 1106-1122, May.
  91. Kristina Blennow & Johannes Persson, 2021. "To Mitigate or Adapt? Explaining Why Citizens Responding to Climate Change Favour the Former," Land, MDPI, vol. 10(3), pages 1-13, March.
  92. David Dillenberger & Andrew Postlewaite & Kareen Rozen, 2011. "Optimism and Pessimism with Expected Utility, Fourth Version," PIER Working Paper Archive 13-068, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 01 Nov 2013.
  93. Mohammed Abdellaoui & Olivier l’Haridon & Horst Zank, 2009. "Separating Curvature and Elevation: A Parametric Weighting Function," Economics Discussion Paper Series 0901, Economics, The University of Manchester.
  94. Tomasz Potocki, 2012. "Cumulative Prospect Theory as a model of economic rationality," Ekonomia journal, Faculty of Economic Sciences, University of Warsaw, vol. 31.
  95. Víctor González-Jiménez, 2021. "Incentive contracts when agents distort probabilities," Vienna Economics Papers 2101, University of Vienna, Department of Economics.
  96. Hagen Lindstädt, 2004. "Entscheidungskalküle jenseits des subjektiven Erwartungsnutzens," Schmalenbach Journal of Business Research, Springer, vol. 56(6), pages 495-519, September.
  97. repec:ebl:ecbull:v:4:y:2004:i:4:p:1-10 is not listed on IDEAS
  98. Liya Guo & Shan Huang & Jun Zhuang & Adel Sadek, 2013. "Modeling Parking Behavior Under Uncertainty: A Static Game Theoretic versus a Sequential Neo-additive Capacity Modeling Approach," Networks and Spatial Economics, Springer, vol. 13(3), pages 327-350, September.
  99. J. Ford & D. Kelsey & W. Pang, 2013. "Information and ambiguity: herd and contrarian behaviour in financial markets," Theory and Decision, Springer, vol. 75(1), pages 1-15, July.
  100. Mohammed Abdellaoui & Horst Zank, 2022. "Source and Rank-dependent Utility," Post-Print hal-03924295, HAL.
  101. Albert Burgos, 2004. "Guessing and gambling," Economics Bulletin, AccessEcon, vol. 4(4), pages 1-10.
  102. Carmela Di Mauro & Massimo Finocchiaro Castro, 2011. "Kindness, confusion, or … ambiguity?," Experimental Economics, Springer;Economic Science Association, vol. 14(4), pages 611-633, November.
  103. Trappey, Charles V. & Shih, Tsui-Yii & Trappey, Amy J.C., 2007. "Modeling international investment decisions for financial holding companies," European Journal of Operational Research, Elsevier, vol. 180(2), pages 800-814, July.
  104. Dietrich, Franz & List, Christian & Bradley, Richard, 2012. "A Joint Characterization of Belief Revision Rules," MPRA Paper 41240, University Library of Munich, Germany.
  105. Kelsey, David & Pang, Wei, 2009. "How Productive is Optimism? A Simple Keynes-type "Big Push" Model," Economics Discussion Papers 2009-2, School of Economics, Kingston University London.
  106. Hammond, Peter J. & Zank, Horst, 2013. "Rationality and Dynamic Consistency under Risk and Uncertainty," Economic Research Papers 270426, University of Warwick - Department of Economics.
  107. Haiyan Liu & Bin Wang & Ruodu Wang & Sheng Chao Zhuang, 2023. "Distorted optimal transport," Papers 2308.11238, arXiv.org.
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