Co-monotonicity: Toward a utility function capturing envy

Envy affects economic decisions, and can lead to monotonicity violation. We introduce co-monotonicity—a generalization of monotonicity, expected to hold even in the presence of envy. Experimental results and implications for the form of possible utility functions are discussed.

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Year of publication:	2012
Authors:	Levy, Moshe
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 114.2012, 1, p. 16-19
Publisher:	Elsevier
Subject:	Envy \| Competitive preferences \| Keeping up with the Joneses \| Monotonicity \| First order Stochastic Dominance

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Type of publication:	Article
Classification:	D81 - Criteria for Decision-Making under Risk and Uncertainty ; D03 - Behavioral Economics; Underlying Principles
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10011041617