Risk, Ambiguity, and the Rank-Dependence Axioms

S-Tier
Journal: American Economic Review
Year: 2009
Volume: 99
Issue: 1
Pages: 385-92

Score contribution per author:

8.043 = (α=2.01 / 1 authors) × 4.0x S-tier

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

Abstract

Choice problems in the spirit of Ellsberg (1961) suggest that rank-dependent ("Choquet expected utility") preferences over subjective gambles might be subject to the same difficulties that Ellsberg's earlier examples posed for subjective expected utility. These difficulties stem from event-separability properties that rank-dependent preferences partially retain from expected utility, and suggest that nonseparable models of preferences might be better at capturing features of behavior that lead to these paradoxes. (JEL D81)

Technical Details

RePEc Handle
repec:aea:aecrev:v:99:y:2009:i:1:p:385-92
Journal Field
General
Author Count
1
Added to Database
2026-01-25