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Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/28825
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| DC Field | | Value | | Language |
| dc.contributor.author | | Schmidt, Ulrich | | en_US |
| dc.contributor.author | | Zank, Horst | | en_US |
| dc.date.accessioned | | 2009-12-11T15:09:05Z | | - |
| dc.date.available | | 2009-12-11T15:09:05Z | | - |
| dc.date.issued | | 2001 | | en_US |
| dc.identifier.citation | | 35 4 483-491 Journal of mathematical economics 0304-4068 | | en_US |
| dc.identifier.pi | | doi:10.1016/S0304-4068(01)00057-X | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/28825 | | - |
| dc.description.abstract | | This paper provides a new axiomatization of rank-dependent expected utility by relaxing tradeoff consistency to hold only when the involved outcomes are equally likely. The resulting weakened variant of tradeoff consistency is considerably simpler and intuitively more appealing than the original condition. Consequently, an improved tool for empirical studies and the elicitation of utilities is provided. It turns out that in the presence of weak ordering, simple-continuity, and stochastic dominance, the new tradeoff consistency for equally likely outcomes is sufficient to derive rank-dependent expected utility for general lotteries. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.subject.jel | | D81 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Rank-dependent expected utility | | en_US |
| dc.subject.keyword | | Tradeoff consistency | | en_US |
| dc.subject.keyword | | Equally likely outcomes | | en_US |
| dc.subject.stw | | Erwartungsnutzen | | en_US |
| dc.subject.stw | | Theorie | | en_US |
| dc.title | | A new axiomatization of rank-dependent expected utility with tradeoff consistency for equally likely outcomes | | en_US |
| dc.type | | Article | | en_US |
| dc.identifier.ppn | | 331613573 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | - |
| Appears in Collections: | | Economists Online
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