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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
separability. So social expected utility emerges merely from social statewise dominance (given other axioms). Moreover, additive …
Persistent link: https://www.econbiz.de/10014422518
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 …
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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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Willingness to take risk depends on whether the risk affects others as well as oneself and on how the risk affects oneś position vis-á-vis others. Taking a bet can improve oneś position relative to others or threaten it. We present an experiment that explores individual attitudes to lotteries...
Persistent link: https://www.econbiz.de/10009784058