Zobrazeno 1 - 10
of 1 015
pro vyhledávání: '"Von Neumann–Morgenstern utility theorem"'
Autor:
Jack Clark Francis
Publikováno v:
Review of Quantitative Finance and Accounting. 56:965-985
This paper reformulates Kahneman–Tversky’s (KT’s) cumulative prospect theory to become a von Neumann–Morgenstern (vNM) theory that is compatible with many existing economic, finance, psychology and decision theories. This vNM theory has the f
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::9da0d4b0860806561a9433ca90ad91f2
https://doi.org/10.1007/s11156-020-00915-8
https://doi.org/10.1007/s11156-020-00915-8
Autor:
Vicki Knoblauch
Publikováno v:
Theory and Decision. 89:369-381
Two scenarios illustrate uses of von Neumann–Morgenstern stable sets in the construction of choice functions. A comparison is made to the construction of choice functions by the selection of maximal elements. A characterization is given of choice f
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::999cf5695b91373ad7aace3f5176eefd
https://doi.org/10.1007/s11238-020-09755-3
https://doi.org/10.1007/s11238-020-09755-3
Autor:
Anke Gerber
Publikováno v:
Homo Oeconomicus. 37:87-104
In this paper we prove that the symmetric Nash solution is a risk neutral von Neumann–Morgenstern utility function on the class of pure bargaining games. Our result corrects an error in Roth (Econometrica 46:587–594, 983, 1978) and generalizes Ro
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::6df5eae5f2001538d1fd4b1e3b79d141
https://doi.org/10.1007/s41412-020-00095-9
https://doi.org/10.1007/s41412-020-00095-9
Autor:
Shunya Noda
Publikováno v:
SSRN Electronic Journal.
In many random assignment problems, the central planner has their own policy objective, such as matching size and minimum quota fulfillment. A number of practically important policy objectives are not aligned with agents' preferences and known to be
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::bc235e143b2e3efce9f28d25b268ff90
https://doi.org/10.2139/ssrn.4103406
https://doi.org/10.2139/ssrn.4103406
We revisit Machina's local utility as a tool to analyze attitudes to multivariate risks. We show that for non-expected utility maximizers choosing between multivariate prospects, aversion to multivariate mean preserving increases in risk is equivalen
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::3c4bec9400d71f6a90971f6e7b0e4e73
Autor:
Kazuhisa Takemura
Publikováno v:
Behavioral Decision Theory ISBN: 9789811654527
Behavioral Decision Theory ISBN: 9784431545798
Behavioral Decision Theory ISBN: 9784431545798
Chapter 5 explained the relevance between the initial idea of expected utility theory and psychology and introduced some studies of utility measurement based on expected utility theory. This chapter will first explain the axiomatic system of expected
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::886febec8c3a1863b82abd65354685d3
https://doi.org/10.1007/978-981-16-5453-4_7
https://doi.org/10.1007/978-981-16-5453-4_7
Autor:
Kazuhisa Takemura
Publikováno v:
Behavioral Decision Theory ISBN: 9789811654527
Behavioral Decision Theory ISBN: 9784431545798
Behavioral Decision Theory ISBN: 9784431545798
Expected utility theory is a major theory of decision making under risk. Decision making under risk is a type of decision-making in which the probability distribution of the results is known. This expected utility theory is assumed in numerous theori
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::651894fd9b8caa80cd26471909fdae3c
https://doi.org/10.1007/978-981-16-5453-4_6
https://doi.org/10.1007/978-981-16-5453-4_6
We give two social aggregation theorems under conditions of risk, one for constant population cases, the other an extension to variable populations. Intra and interpersonal welfare comparisons are encoded in a single ‘individual preorder’. The th
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_dedup___::4b3954a4a61c6cc3ff5716a61ae66691
https://doi.org/10.1016/j.jmateco.2020.01.001
https://doi.org/10.1016/j.jmateco.2020.01.001
Autor:
Naoki Watanabe, Toshiyuki Hirai
Publikováno v:
Mathematical Social Sciences. 94:1-12
This paper provides the existence proof for stable sets of a game which may have empty cores. Given the number of licensees of a patented technology which is determined by the patent holder without any production facilities, a game with a coalition s
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::22252a9596fb19c810ce00c9bc175769
https://doi.org/10.1016/j.mathsocsci.2018.04.001
https://doi.org/10.1016/j.mathsocsci.2018.04.001
Autor:
Pavlo R. Blavatskyy
Publikováno v:
Theory and Decision. 84:29-60
This paper presents a new decision theory for modelling choice under risk. The new theory is a two-parameter generalization of expected utility theory. The proposed theory assumes that a decision maker: (1) behaves as if maximizing expected utility;
Externí odkaz:
https://explore.openaire.eu/search/publication?articleId=doi_________::aab5fb297eb562c0e9e6597ec8e05fe9
https://doi.org/10.1007/s11238-017-9629-5
https://doi.org/10.1007/s11238-017-9629-5