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Additive utility with intransitive indifference and without independence: A homogeneous case

Menestrel, Marc Le; Lemaire, Bertrand - Department of Economics and Business, Universitat … - 2002

In the homogeneous case of one type of goods or objects, we prove the existence of an additive utility function without assuming transitivity of indifference and independence. The representation reveals a positive factor smaller than 1 that infuences rational choice beyond the utility function...

Persistent link: https://www.econbiz.de/10005704870

Minimax regret and strategic uncertainty

Renou, Ludovic; Schlag, Karl - Department of Economics and Business, Universitat … - 2008

players are uncertain about the rationality and conjectures of their opponents. We provide several applications of our concept …. In particular, we consider pricesetting environments and show that optimal pricing policy follows a non …

Persistent link: https://www.econbiz.de/10005704881

A one-shot Prisoners’ Dilemma with procedural utility

Menestrel, Marc Le - Department of Economics and Business, Universitat … - 2003

This article introduces a model of rationality that combines procedural utility over actions with consequential utility …

Persistent link: https://www.econbiz.de/10005708006

Economic rationality and ethical behavior

Menestrel, Marc Le - Department of Economics and Business, Universitat … - 2001

This paper argues that economic rationality and ethical behavior cannot be reduced one to the other, casting doubts on … rationality between venality and sacrifice. Because every one prefers to communicate that he acts ethically, ethical business …

Persistent link: https://www.econbiz.de/10005772309

The biased balance: Observation, formalism and interpretation of a dissymmetric measuring device

Menestrel, Marc Le - Department of Economics and Business, Universitat … - 2007

This paper studies a balance whose unobservable fulcrum is not necessarily located at the middle of its two pans. It presents three different models, showing how this lack of symmetry modifies the observation, the formalism and the interpretation of such a biased measuring device. It argues that...

Persistent link: https://www.econbiz.de/10005772500

A process approach to the utility for gambling

Menestrel, Marc Le - Department of Economics and Business, Universitat … - 2001

This paper argues that any specific utility or disutility for gambling must be excluded from expected utility because such a theory is consequential while a pleasure or displeasure for gambling is a matter of process, not of consequences. A (dis)utility for gambling is modeled as a process...

Persistent link: https://www.econbiz.de/10005772534

A measure of rationality and welfare

Apesteguia, Jose; Ballester, Miguel Angel - Department of Economics and Business, Universitat … - 2010

Evidence showing that individual behavior often deviates from the classical principle of preference maximization has raised at least two important questions: (i) How serious are the deviations? and (ii) What is the best way to analyse choice behavior in order to extract information for the...

Persistent link: https://www.econbiz.de/10008498419

Behavioral assumptions and management ability

Arruñada, Benito; Vázquez, Xosé H. - Department of Economics and Business, Universitat … - 2009

their future performance. We argue that training with an emphasis on the standard assumptions used in economics (rationality …

Persistent link: https://www.econbiz.de/10004980303

The risk of divorce and household saving behavior

Luna, Libertad González; Özcan, Berkay - Department of Economics and Business, Universitat … - 2008

We analyze the impact of an increase in the risk of divorce on the saving behaviour of married couples. From a … in 1996 as an exogenous increase in the likelihood of marital dissolution. We analyze the saving behaviour over time of …

Persistent link: https://www.econbiz.de/10005772177

Public and private saving and investment

Wincoop, Eric van; Marrinan, Jane - Department of Economics and Business, Universitat … - 1996

We decompose aggregate saving and investment into its public and private components and then document a variety of … ``stylized facts'' associated with saving and investment rates for a sample of 15 countries over the period 1975--1989. In order … modeling the fiscal policy rules. The model performs remarkably well in accounting for a wide variety of time series …

Persistent link: https://www.econbiz.de/10005772355