A revealed-preference implication of weighted utility decisions under uncertainty

B-Tier
Journal: Economic Theory
Year: 1998
Volume: 11
Issue: 2
Pages: 413-426

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

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

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.

Technical Details

RePEc Handle
repec:spr:joecth:v:11:y:1998:i:2:p:413-426
Journal Field
Theory
Author Count
1
Added to Database
2026-01-28