Random rank-dependent expected utility

Nail Kashaev and Victor H. Aguiar

We present a novel characterization of random rank-dependent expected utility for finite datasets and finite prizes. As a byproduct, we obtain a characterization of random expected utility that works for finite datasets. The test lends itself to statistical testing. We apply our test to an experimental dataset and find evidence against random expected utility, while random rank-dependent expected utility can explain the dataset.

MoreLess

Year of publication:	2022
Authors:	Kashaev, Nail ; Aguiar, Victor H.
Published in:	Games. - Basel : MDPI, ISSN 2073-4336, ZDB-ID 2527220-2. - Vol. 13.2022, 1, Art.-No. 13, p. 1-10
Subject:	expected utility \| random utility \| rank-dependent expected utility \| Erwartungsnutzen \| Expected utility \| Nutzen \| Utility \| Nutzentheorie \| Utility theory \| Erwartungsbildung \| Expectation formation

freely available

Full text |

More access options

www.mdpi.com

doi.org

Check Google Scholar

In libraries world-wide (WorldCat)

In German libraries (KVK)

subito order

I need help

Type of publication:	Article
Type of publication (narrower categories):	Aufsatz in Zeitschrift ; Article in journal
Language:	English
Other identifiers:	10.3390/g13010013 [DOI] hdl:10419/257590 [Handle]
Classification:	C50 - Econometric Modeling. General ; C51 - Model Construction and Estimation ; C52 - Model Evaluation and Testing ; C91 - Laboratory, Individual Behavior
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10013172016