Psychological Expected Utility Theory and Anticipatory Feelings

S-Tier
Journal: Quarterly Journal of Economics
Year: 2001
Volume: 116
Issue: 1
Pages: 55-79

Authors (2)

Andrew Caplin (not in RePEc) John Leahy

Score contribution per author:

4.022 = (α=2.01 / 2 authors) × 4.0x S-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We extend expected utility theory to situations in which agents experience feelings of anticipation prior to the resolution of uncertainty. We show how these anticipatory feelings may result in time inconsistency. We provide an example from portfolio theory to illustrate the potential impact of anticipation on asset prices.

Technical Details

RePEc Handle
repec:oup:qjecon:v:116:y:2001:i:1:p:55-79.
Journal Field
General
Author Count
2
Added to Database
2026-01-25