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additive random utility and competing risk models. …
Persistent link: https://www.econbiz.de/10012109838
allocate higher utility-conditional-on-existence to possible people who have a higher probability of existence. The other two …
Persistent link: https://www.econbiz.de/10012583668
ex post criteria that take an (arbitrary) expected utility of an equally-distributed equivalent level of well …-being. Second, if the social ordering is not an expected utility, we can obtain fair ex ante criteria that assess uncertain … on VNM utility functions even in absence of risk, we can construct expected utility social orderings that satisfy of some …
Persistent link: https://www.econbiz.de/10013220255
separability. So social expected utility emerges merely from social statewise dominance (given other axioms). Moreover, additive …
Persistent link: https://www.econbiz.de/10014422518
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model of choice. We evaluate the performance of different models (including expected utility, disappointment aversion, rank … dependent utility, mean-variance utility, and stochastically monotone utility) in the data collected by Choi et al. (2007), in …
Persistent link: https://www.econbiz.de/10011671892
In this paper, we relax the restriction on the identical distribution for the random utility parts under discrete … choice behavior more accurately. If an alternative's nominal utility is relatively high, its choice probability is higher … when an individual uses its mean of utility in her choice process, whereas the choice probabilities for other alternatives …
Persistent link: https://www.econbiz.de/10012847619
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In this paper, we address the identification and estimation of insurance models where insurees have private information about their risk and risk aversion. The model includes random damages and allows for several claims, while insurees choose from a finite number of coverages. We show that the...
Persistent link: https://www.econbiz.de/10015190336