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A quantitative and qualitative test of the Allais paradox using health outcomes

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  • Oliver, Adam

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  • Oliver, Adam, 2003. "A quantitative and qualitative test of the Allais paradox using health outcomes," Journal of Economic Psychology, Elsevier, vol. 24(1), pages 35-48, February.
    • Handle: RePEc:eee:joepsy:v:24:y:2003:i:1:p:35-48
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    2. Tversky, Amos & Kahneman, Daniel, 1992. "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty, Springer, vol. 5(4), pages 297-323, October.
    3. Han Bleichrodt & Jose Luis Pinto, 2000. "A Parameter-Free Elicitation of the Probability Weighting Function in Medical Decision Analysis," Management Science, INFORMS, vol. 46(11), pages 1485-1496, November.
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    5. Loomes, Graham & Sugden, Robert, 1982. "Regret Theory: An Alternative Theory of Rational Choice under Uncertainty," Economic Journal, Royal Economic Society, vol. 92(368), pages 805-824, December.
    6. Peter Wakker & Anne Stiggelbout, 1995. "Explaining Distortions in Utility Elicitation through the Rank-dependent Model for Risky Choices," Medical Decision Making, , vol. 15(2), pages 180-186, June.
    7. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    8. Torrance, George W., 1986. "Measurement of health state utilities for economic appraisal : A review," Journal of Health Economics, Elsevier, vol. 5(1), pages 1-30, March.
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    10. Conlisk, John, 1989. "Three Variants on the Allais Example," American Economic Review, American Economic Association, vol. 79(3), pages 392-407, June.
    11. Loomes, Graham & Sugden, Robert, 1987. "Some implications of a more general form of regret theory," Journal of Economic Theory, Elsevier, vol. 41(2), pages 270-287, April.
    12. David E. Bell, 1982. "Regret in Decision Making under Uncertainty," Operations Research, INFORMS, vol. 30(5), pages 961-981, October.
    13. George Wu & Richard Gonzalez, 1996. "Curvature of the Probability Weighting Function," Management Science, INFORMS, vol. 42(12), pages 1676-1690, December.
    14. Howard Raiffa, 1961. "Risk, Ambiguity, and the Savage Axioms: Comment," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 75(4), pages 690-694.
    15. Pamela K. Lattimore & Joanna R. Baker & A. Dryden Witte, 1992. "The Influence Of Probability on Risky Choice: A parametric Examination," NBER Technical Working Papers 0081, National Bureau of Economic Research, Inc.
    16. Loomes, Graham & Sugden, Robert, 1987. "Testing for Regret and Disappointment in Choice under Uncertainty," Economic Journal, Royal Economic Society, vol. 97(388a), pages 118-129, Supplemen.
    17. Camerer, Colin F, 1989. "An Experimental Test of Several Generalized Utility Theories," Journal of Risk and Uncertainty, Springer, vol. 2(1), pages 61-104, April.
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    Cited by:

    1. Stefan A. Lipman & Arthur E. Attema, 2019. "Rabin's paradox for health outcomes," Health Economics, John Wiley & Sons, Ltd., vol. 28(8), pages 1064-1071, August.
    2. Bleichrodt, Han & Quiggin, John, 2013. "Capabilities as menus: A non-welfarist basis for QALY evaluation," Journal of Health Economics, Elsevier, vol. 32(1), pages 128-137.
    3. Oliver, Adam & Sunstein, Cass, 2019. "Does size matter? The Allais paradox and preference reversals with varying outcome magnitudes," LSE Research Online Documents on Economics 91130, London School of Economics and Political Science, LSE Library.
    4. Valerie F. Reyna, 2011. "The Paradoxes of Maurice Allais in Economics and Psychology," Medical Decision Making, , vol. 31(2), pages 221-222, March.
    5. Demuynck, Thomas & Lauwers, Luc, 2009. "Nash rationalization of collective choice over lotteries," Mathematical Social Sciences, Elsevier, vol. 57(1), pages 1-15, January.
    6. Kolnhofer-Derecskei Anita, 2017. "The Indifferent, the Good Samaritan, the Brave and the Agent in Allais Paradox situation – or How Endowment Effect Influences Our Decision in Case of Allais Paradox?," Organizacija, Sciendo, vol. 50(4), pages 299-313, December.
    7. Oliver, Adam, 2003. "The internal consistency of the standard gamble: tests after adjusting for prospect theory," Journal of Health Economics, Elsevier, vol. 22(4), pages 659-674, July.
    8. Oliver, Adam, 2003. "The internal consistency of the standard gamble: tests after adjusting for prospect theory," LSE Research Online Documents on Economics 159, London School of Economics and Political Science, LSE Library.
    9. Adam Oliver & Richard Cookson, 2010. "Analysing risk attitudes to time," Health Economics, John Wiley & Sons, Ltd., vol. 19(6), pages 644-655, June.
    10. Oliver, Adam & Sunstein, Cass, 2019. "Does size matter? The Allais paradox and preference reversals with varying outcome magnitudes," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 78(C), pages 45-60.
    11. Khalil, Elias L., 2015. "Temptations as Impulsivity: How far are Regret and the Allais Paradox from Shoplifting?," Economic Modelling, Elsevier, vol. 51(C), pages 551-559.
    12. Brazier, J & Dolan, P, 2005. "Evidence of preference construction in a comparison of variants of the standard gamble method," MPRA Paper 29760, University Library of Munich, Germany.

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