IDEAS home Printed from https://ideas.repec.org/a/spr/joecth/v11y1998i2p413-426.html
   My bibliography  Save this article

A revealed-preference implication of weighted utility decisions under uncertainty

Author

Listed:
  • In-Uck Park

    (Department of Economics, University of Bristol, 8 Woodland Road, Bristol BS8 1TN, UK)

Abstract

In a novel formulation of revealed preference analysis, Green and Osband [8] show that for expected-utility maximizers, acts partition the state-simplex into linear polyhedral blocks. The question naturally arises whether this characterization distinguishes expected utility theory from non-expected utility theories. This paper investigates the weighted utility theory of Chew [2] and shows that the corresponding partition is systematically different from the expected utility theory: the boundaries of the partition blocks are quadratic rather than linear. This result contains useful empirical contents.

Suggested Citation

  • In-Uck Park, 1998. "A revealed-preference implication of weighted utility decisions under uncertainty," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 11(2), pages 413-426.
    • Handle: RePEc:spr:joecth:v:11:y:1998:i:2:p:413-426
    Note: Received: May 15, 1995; revised version: November 22, 1996
    as

    Download full text from publisher

    File URL: http://link.springer.de/link/service/journals/00199/papers/8011002/80110413.pdf
    Download Restriction: Access to the full text of the articles in this series is restricted
    File URL: http://link.springer.de/link/service/journals/00199/papers/8011002/80110413.ps.gz
    Download Restriction: Access to the full text of the articles in this series is restricted
    ---><---

    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:

    Citations

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


    Cited by:

    1. Green, Edward J. & Park, In-Uck, 1996. "Bayes contingent plans," Journal of Economic Behavior & Organization, Elsevier, vol. 31(2), pages 225-236, November.

    More about this item

    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:spr:joecth:v:11:y:1998:i:2:p:413-426. See general information about how to correct material in RePEc.

    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.

    We have no bibliographic references for this item. You can help adding them by using 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.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

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

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.