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dc.contributor.authorSchmidt, Ulrichen_US
dc.contributor.authorZank, Horsten_US
dc.date.accessioned2009-12-11T15:09:05Z-
dc.date.available2009-12-11T15:09:05Z-
dc.date.issued2001en_US
dc.identifier.citation35 4 483-491 Journal of mathematical economics 0304-4068en_US
dc.identifier.pidoi:10.1016/S0304-4068(01)00057-Xen_US
dc.identifier.urihttp://hdl.handle.net/10419/28825-
dc.description.abstractThis 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.isoengen_US
dc.subject.jelD81en_US
dc.subject.ddc330en_US
dc.subject.keywordRank-dependent expected utilityen_US
dc.subject.keywordTradeoff consistencyen_US
dc.subject.keywordEqually likely outcomesen_US
dc.subject.stwErwartungsnutzenen_US
dc.subject.stwTheorieen_US
dc.titleA new axiomatization of rank-dependent expected utility with tradeoff consistency for equally likely outcomesen_US
dc.typeArticleen_US
dc.identifier.ppn331613573en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
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