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Stochastically more risk averse: A contextual theory of stochastic discrete choice under risk

Wilcox, Nathaniel - Volkswirtschaftliche Fakultät, … - 2007

Microeconometric treatments of discrete choice under risk are typically homoscedastic latent variable models. Specifically, choice probabilities are given by preference functional differences (given by expected utility, rank-dependent utility, etc.) embedded in cumulative distribution functions....

Persistent link: https://www.econbiz.de/10005836390

NATURSCHUTZFACHLICHE OPTIMIERUNG VON GRÜNLAND MIT HILFE DER FFH-MANAGEMENTPLANUNG IN SACHSEN

Lakner, Sebastian; Kleinknecht, Uta - Gesellschaft für Wirtschafts- und Sozialwissenschaften … - 2012

Ergebnisse zeigen, dass die betriebliche Entscheidung für eine naturschutzfachliche Optimierung abhängig ist von der …

Persistent link: https://www.econbiz.de/10011070486

Preference for flexibility in infinite horizon problems

Rustichini, Aldo - In: Economic Theory 20 (2002) 4, pp. 677-702

We consider the extension of the classical problem of preference for flexibility to many periods. Preferences are defined over sets of infinite paths of choices. The main result provides a set of axioms on preferences that yield an additive representation over a subjective state space. This...

Persistent link: https://www.econbiz.de/10005155445

Subjective Learning, Second Version

Dillenberger, David; Sadowski, Philipp - Department of Economics, University of Pennsylvania - 2011

We study an individual who faces a dynamic decision problem in which the process of information arrival is unobserved …

Persistent link: https://www.econbiz.de/10009652215

Dynamic inconsistency and choice

Brocas, Isabelle - In: Theory and Decision 71 (2011) 3, pp. 343-364

Persistent link: https://www.econbiz.de/10009327373

Models of Subjective Learning

Dillenberger, David; Sadowski, Philipp - Department of Economics, University of Pennsylvania - 2011

We study a decision maker who faces a dynamic decision problem in which the process of information arrival is … decision maker’s uncertainty about the beliefs he will hold when choosing from a menu. In the most general model of second … representation enables us to compare the behavior of two decision makers who expect to learn differently, even if they do not agree …

Persistent link: https://www.econbiz.de/10009366834

Belief functions and preference for flexibility

Ryan, Matthew - In: Economics Bulletin 34 (2014) 1, pp. 581-588

This note clarifies some deep mathematical connections between the Dempster-Shafer theory belief functions (Dempster, 1967; Shafer, 1976) and preference for flexibility in the tradition of Kreps (1979).

Persistent link: https://www.econbiz.de/10010755743

Hidden Actions and Preferences for Timing of Resolution of Uncertainty

Ergin, Haluk; Sarver, Todd - Center for Mathematical Studies in Economics and … - 2012

We study preferences for timing of resolution of objective uncertainty in a menu-choice model with two stages of information arrival. We characterize a general class of utility representations called hidden action representations, which interpret an intrinsic preference for timing of resolution...

Persistent link: https://www.econbiz.de/10010668492

Preference for flexibility in the absence of learning: the risk attitude effect

Ficco, Stefano; Karamychev, Vladimir - In: Economic Theory 40 (2009) 3, pp. 405-426

Persistent link: https://www.econbiz.de/10005061262

Pre-Commitment and Flexibility in a Time Decision Experiment.

Casari, Marco - Krannert School of Management, Purdue University - 2006

This study presents experimental data on pre-commitment and flexibility where monetary rewards are delivered with an actual delay. Preference for pre-commitment is defined as willingness to pay a cost to restrict the size of the choice set available in the future. Preference for flexibility is...

Persistent link: https://www.econbiz.de/10005739809

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