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~institution:"Department of Economics and Related Studies, University of York"
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Ambiguity
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Choquet Expected Utility
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Department of Economics and Related Studies, University of York
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The Descriptive and Predictive Adequacy of Theories of Decision Making Under Uncertainty/Ambiguity
Hey, John D
;
Lotito, Gianna
;
Maffioletti, Anna
-
Department of Economics and Related Studies, University …
-
2008
In this paper we examine the performance of theories of decision making under uncertainty/ambiguity from the perspective of their descriptive and predictive power, taking into account the relative parsimony of the various theories. To this end, we employ an innovative experimental design which...
Persistent link: https://www.econbiz.de/10005328553
Saved in:
2
Choquet OK?
Hey, John D
;
Lotito, Gianna
;
Maffioletti, Anna
-
Department of Economics and Related Studies, University …
-
2007
Utility, Prospect Theory,
Choquet
Expected
Utility
, Maximin, Maximax, and Minimum Regret preference functionals, and examine …
Persistent link: https://www.econbiz.de/10005523931
Saved in:
3
The Explanatory and Predictive Power of Non Two-Stage-Probability Theories of Decision Making Under Ambiguity
Hey, John D
;
Pace, Noemi
-
Department of Economics and Related Studies, University …
Representing ambiguity in the laboratory using a Bingo Blower (which is transparent and not manipulable) and asking the subjects a series of allocation questions (which are more efcient than pairwise choice questions), we obtain data from which we can estimate by maximum likelihood methods (with...
Persistent link: https://www.econbiz.de/10009364547
Saved in:
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