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Subjective recursive expected utility [PDF]
Economic Theory, 2004 An axiomatic definition of the subjective recursive expected utility (SREU) is described and provided. It is an extension of results given in [\textit{D. M. Kreps, E. L. Porteus}, Econometrica 46, 185--200 (1978; Zbl 0382.90006)]. All proofs are given in the appendix. It is an important generalization of the particular definition of the SREU.
Ozdenoren, Emre, Klibanoff, Peter
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La aversión al riesgo en la toma de decisiones médicas: una revisión
Lecturas de Economía, 2011 This article surveys the literature on risk aversion in medical decision making. The search covered Econlit, Jstor Science Direct and Springer Link since 1985.
Liliana Alejandra Chicaíza Becerra +2 more
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The Magnitude and “Peanuts” Effects: Searching Implications
Frontiers in Applied Mathematics and Statistics, 2018 The framework of this paper is the field of decision-making processes in which people face the choice between probabilistic and dated rewards. Traditionally, the preferences for probabilistic outcomes have been analyzed by the Expected Utility (EU) model
Salvador Cruz Rambaud +1 more
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SICE Journal of Control, Measurement, and System Integration, 2021 Conditionally automated driving is expected to become available to the public in near future. However, the driver is expected to take over control from the system when a sudden system failure occurs or when the driving automation system is approaching ...
Hua Yao +3 more
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The Saint Petersburg Paradox and Its Solution
RisksThis article describes the main historical facts concerning the Saint Petersburg paradox, the most important solutions proposed thus far, and the results of new experimental evidence and a simulation of the game that shed light on a solution for this ...
Claudio Mattalia
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A Portfolio Choice Problem in the Framework of Expected Utility Operators
Mathematics, 2019 Possibilistic risk theory starts from the hypothesis that risk is modeled by fuzzy numbers. In particular, in a possibilistic portfolio choice problem, the return of a risky asset will be a fuzzy number.
Irina Georgescu, Louis Aimé Fono
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Deploying projected utility to predict health behaviour in health economics: a quantitative study
Scientific ReportsExpected utility is increasingly deployed as a predictor of health behaviour within the broader domain of health economics and health sciences in general. However, research shows that this concept only explains limited variance in health behaviour.
Damien S. E. Broekharst +4 more
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Choking or Delivering Under Pressure? The Case of Elimination Games in NBA Playoffs
Frontiers in Psychology, 2018 Neoclassical economic theories foretell that individuals exert the most effort, and consequently produce their best performances, when the net returns to effort are highest.
Elia Morgulev, Yair Galily
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Is the crop insurance program effective in China? Evidence from farmers analysis in five provinces
Journal of Integrative Agriculture, 2015 This paper aims to evaluate the effectiveness of the Chinese crop insurance program in terms of farmers' utility and welfare. A simulation model based on the power utility function was first developed to evaluate the effectiveness of crop insurance. Then,
Ke WANG +3 more
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Rethinking Economic Measurement Using Statistical Ensembles
EntropyThe axiomatic framework of quantum game theory gives us a new platform for exploring economics by resolving the foundational problems that have long plagued the expected utility hypothesis.
Cal Abel
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