Elicitation of Subjective Probabilities When the Initial Endowment is Unobservable.

B-Tier
Journal: Journal of Risk and Uncertainty
Year: 1999
Volume: 18
Issue: 1
Pages: 5-20

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

In the framework of subjective expected utility theory we develop two distinct procedures for the elicitation of a person's subjective probabilities when the initial endowment is random and unobservable. Procedures of the first kind rely on the boundedness of the utility function to elicit the person's subjective probabilities directly. Procedures of the second kind infer the person's initial endowment from his choice behavior prior to the application of probability elicitation. Copyright 1999 by Kluwer Academic Publishers

Technical Details

RePEc Handle
repec:kap:jrisku:v:18:y:1999:i:1:p:5-20
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25