Testing risk aversion and nonexpected utility theories
| Autor: | Edna T. Loehman |
|---|---|
| Rok vydání: | 1998 |
| Předmět: |
Organizational Behavior and Human Resource Management
Economics and Econometrics Rank (computer programming) Isoelastic utility Econometrics Economics Ambiguity aversion Risk aversion (psychology) Subjective expected utility Von Neumann–Morgenstern utility theorem Expected utility hypothesis Preference |
| Zdroj: | Journal of Economic Behavior & Organization. 33:285-302 |
| ISSN: | 0167-2681 |
| DOI: | 10.1016/s0167-2681(97)00097-8 |
| Popis: | This paper tests risk aversion and compares several nonexpected utility theories using paired comparisons. Economic hypotheses associated with risk aversion are found not to hold in preference data. Expected utility with rank dependent probability is found to provide a smooth representation of preference for a wide range of preference types. |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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