Testing Theories of Choice Under Risk: Estimation of Individual Functionals

B-Tier
Journal: Journal of Risk and Uncertainty
Year: 2002
Volume: 24
Issue: 3
Pages: 251-265

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

The method introduced here allows us to use a data set with a non-restricted number of outcomes, here 21. Hence, our method complements the other ones developed in the domain of the probability triangle. Individual parameters are estimated for expected utility and various non-expected utility theories. We use CRRA and CARA utility functions, both without and with the assumption of weakly concavity. Rank-dependent utility, prospective reference and cognitive consistency theories emerge from the others. Copyright Kluwer Academic Publishers 2002

Technical Details

RePEc Handle
repec:kap:jrisku:v:24:y:2002:i:3:p:251-265
Journal Field
Theory
Author Count
1
Added to Database
2026-01-24