# Axiomatization of stochastic models for choice under uncertainty

## Author

## Abstract

## Suggested Citation

**Axiomatization of stochastic models for choice under uncertainty**," Mathematical Social Sciences, Elsevier, vol. 55(3), pages 341-370, May.

*RePEc:eee:matsoc:v:55:y:2008:i:3:p:341-370*

## Download full text from publisher

As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

## Other versions of this item:

- John K. Dagsvik, 2006.
"
**Axiomatization of Stochastic Models for Choice under Uncertainty**," Discussion Papers 465, Statistics Norway, Research Department.

## References listed on IDEAS

- Fishburn, Peter C, 1978.
"
**A Probabilistic Expected Utility Theory of Risky Binary Choices**," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 19(3), pages 633-646, October. - Dagsvik, John k: & Strøm, Steinar, 2003.
"
**A Stochastic Model for the Utility of Income**," Memorandum 32/2003, Oslo University, Department of Economics.- John K. Dagsvik & Steinar Strøm & Zhiyang Jia, 2003.
"
**A Stochastic Model for the Utility of Income**," Discussion Papers 358, Statistics Norway, Research Department.

- John K. Dagsvik & Steinar Strøm & Zhiyang Jia, 2003.
"
- Loomes, Graham & Sugden, Robert, 1998.
"
**Testing Different Stochastic Specifications of Risky Choice**," Economica, London School of Economics and Political Science, vol. 65(260), pages 581-598, November. - John K. Dagsvik, 2005.
"
**Choice under Uncertainty and Bounded Rationality**," Discussion Papers 409, Statistics Norway, Research Department. - McFadden, Daniel L., 1984.
"
**Econometric analysis of qualitative response models**," Handbook of Econometrics,in: Z. Griliches† & M. D. Intriligator (ed.), Handbook of Econometrics, edition 1, volume 2, chapter 24, pages 1395-1457 Elsevier. - Hey, John D & Orme, Chris, 1994.
"
**Investigating Generalizations of Expected Utility Theory Using Experimental Data**," Econometrica, Econometric Society, vol. 62(6), pages 1291-1326, November. - Loomes, Graham & Sugden, Robert, 1995.
"
**Incorporating a stochastic element into decision theories**," European Economic Review, Elsevier, vol. 39(3-4), pages 641-648, April. - Harless, David W & Camerer, Colin F, 1994.
"
**The Predictive Utility of Generalized Expected Utility Theories**," Econometrica, Econometric Society, vol. 62(6), pages 1251-1289, November. - Carbone, Enrica, 1997.
"
**Investigation of stochastic preference theory using experimental data**," Economics Letters, Elsevier, vol. 57(3), pages 305-311, December. - Hey, John D., 1995.
"
**Experimental investigations of errors in decision making under risk**," European Economic Review, Elsevier, vol. 39(3-4), pages 633-640, April. - Faruk Gul & Wolfgang Pesendorfer, 2006.
"
**Random Expected Utility**," Econometrica, Econometric Society, vol. 74(1), pages 121-146, January.- F. Gul & W. Pesendorfer, 2002.
"
**Random Expected Utility**," Princeton Economic Theory Working Papers 497768e9b9fc18361ac0810b3, David K. Levine. - Faruk Gul & Wolfgang Pesendorfer, 2005.
"
**Random Expected Utility**," Levine's Bibliography 122247000000000834, UCLA Department of Economics.

- F. Gul & W. Pesendorfer, 2002.
"
- Dagsvik, John K. & Strom, Steinar & Jia, Zhiyang, 2006.
"
**Utility of income as a random function: Behavioral characterization and empirical evidence**," Mathematical Social Sciences, Elsevier, vol. 51(1), pages 23-57, January.- John K. Dagsvik & Steinar Strøm & Zhiyang Jia, 2005.
"
**Utility of Income as a Random Function. Behavioral Characterization and Empirical Evidence**," Discussion Papers 431, Statistics Norway, Research Department.

- John K. Dagsvik & Steinar Strøm & Zhiyang Jia, 2005.
"
- Chris Starmer, 2000.
"
**Developments in Non-expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk**," Journal of Economic Literature, American Economic Association, vol. 38(2), pages 332-382, June. - Gerard Debreu, 1957.
"
**Stochastic Choice and Cardinal Utility**," Cowles Foundation Discussion Papers 39, Cowles Foundation for Research in Economics, Yale University. - Iverson, G. & Falmagne, J. -C., 1985.
"
**Statistical issues in measurement**," Mathematical Social Sciences, Elsevier, vol. 10(2), pages 131-153, October. - L. Thurstone, 2010.
"
**Psychophysical Analysis**," Levine's Working Paper Archive 458, David K. Levine. - Karni, Edi & Schmeidler, David, 1991.
"
**Utility theory with uncertainty**," Handbook of Mathematical Economics,in: W. Hildenbrand & H. Sonnenschein (ed.), Handbook of Mathematical Economics, edition 1, volume 4, chapter 33, pages 1763-1831 Elsevier.

**Full references**(including those not matched with items on IDEAS)

## Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
**Cited by:**

- Dagsvik, John K., 2015.
"
**Stochastic models for risky choices: A comparison of different axiomatizations**," Journal of Mathematical Economics, Elsevier, vol. 60(C), pages 81-88. - Matthew Ryan, 2017.
"
**Random Binary Choices that Satisfy Stochastic Betweenness**," Working Papers 2017-01, Auckland University of Technology, Department of Economics. - Matthew Ryan, 2015.
"
**A Strict Stochastic Utility Theorem**," Economics Bulletin, AccessEcon, vol. 35(4), pages 2664-2672. - Matthew Ryan, 2015.
"
**Binary Choice Probabilities on Mixture Sets**," Working Papers 2015-01, Auckland University of Technology, Department of Economics. - repec:eee:mateco:v:70:y:2017:i:c:p:176-184 is not listed on IDEAS
- Dagsvik, John K, 2017.
"
**Invariance Axioms and Functional Form Restrictions in Structural Models**," Memorandum 08/2017, Oslo University, Department of Economics. - John Dagsvik & Stine Røine Hoff, 2011.
"
**Justification of functional form assumptions in structural models: applications and testing of qualitative measurement axioms**," Theory and Decision, Springer, vol. 70(2), pages 215-254, February. - repec:eee:matsoc:v:91:y:2018:i:c:p:85-95 is not listed on IDEAS
- Cadogan, Godfrey, 2010.
"
**Asymptotic Theory Of Stochastic Choice Functionals For Prospects With Embedded Comotonic Probability Measures**," MPRA Paper 22380, University Library of Munich, Germany.

## More about this item

### JEL classification:

**C25**- Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions; Probabilities**D11**- Microeconomics - - Household Behavior - - - Consumer Economics: Theory**D81**- Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

### Statistics

Access and download statistics## Corrections

All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: *RePEc:eee:matsoc:v:55:y:2008:i:3:p:341-370*. 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: (Dana Niculescu). General contact details of provider: http://www.elsevier.com/locate/inca/505565 .

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 CitEc recognized a reference but did not link an item in RePEc 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 RePEc Author Service 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.