Discriminating between Preference Functionals: A Preliminary Monte Carlo Study.

B-Tier
Journal: Journal of Risk and Uncertainty
Year: 1994
Volume: 8
Issue: 3
Pages: 223-42

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

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

Abstract

This article is connected with recent attempts to estimate EU and Generalised EU preference functionals using (complete ranking) experimental data and maximum likelihood estimation techniques. In particular, we explore, using Monte Carlo techniques, the power of such procedures in correctly determining the true preference functional. We conclude that several of the more popular generalisations to EU are very difficult to disentangle, and that the techniques are rather poor at correctly identifying EU when it is the correct functional. Copyright 1994 by Kluwer Academic Publishers

Technical Details

RePEc Handle
repec:kap:jrisku:v:8:y:1994:i:3:p:223-42
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25