Results 201 to 210 of about 140,417 (244)

Efficient sets with and without the expected utility hypothesis

Journal of Mathematical Economics, 1988
Consider a feasible set, X, of c.d.f.'s. Assume that the set of decision makers, who must choose from X, includes non-expected utility decision makers who are risk averse in some weaker notions. We show that in this case the efficient set of X expands relative to the expected utility case.
Zvi Safra
exaly   +3 more sources

A Non Parametric Test of the Expected Utility Hypothesis [PDF]

, 1990
A nonparametric test of the expected utility hypothesis is developed. It is shown that the expected utility hypothesis holds if there exists a feasible solution to a system of linear inequalities. Furthermore, when a feasible solution exists boundaries on the coefficient of absolute risk aversion can be calculated explicitly.
Bar-Shira, Ziv, Bar-Shira, Ziv
openaire   +2 more sources

SHOULD AGRICULTURAL AND RESOURCE ECONOMISTS CARE THAT THE SUBJECTIVE EXPECTED UTILITY HYPOTHESIS IS FALSE? [PDF]

, 1998
This paper argues that the subjective expected utility (SEU) hypothesis has serious limitations in both positive and normative analysis. In addition to experimental evidence, we discuss examples where alternatives to the SEU model provide a richer framework for the study problems of choice under uncertainty.
Woodward, Richard T., Woodward, Richard T.   +1 more
core   +5 more sources

The subjective expected utility hypothesis and revealed preference

Economic Theory, 1991
zbMATH Open Web Interface contents unavailable due to conflicting licenses.
exaly   +2 more sources

Expected Utility Hypothesis

1987
The expected utility hypothesis of behaviour towards risk is essentially the hypothesis that the individual decision–maker possesses (or acts as if possessing) a ‘von Neumann-Morgenstern utility function’ U(·) or ‘von Neumann-Morgenstern utility index’ {Ui} defined over some set of outcomes, and when faced with alternative risky prospects or ‘lotteries’
Mark J Machina, Machina Mark J
exaly   +2 more sources

Revealed preference, stochastic dominance, and the expected utility hypothesis

Journal of Economic Theory, 1992
zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Kim C Border
exaly   +2 more sources

Testing the expected utility maximization hypothesis with limited experimental data

Japan and the World Economy, 2004
Abstract In this article we use some old ideas of Franklin to derive the partial differential equation (St Robert Equation) characterizing the level curves of expected utility maximizing preferences over simple gambles. We also provide conditions under which an incomplete family of level curves permits an investigator to determine whether or not the ...
Thomas Russell, Paul A Samuelson
exaly   +2 more sources

Weak Experimental Verification of the Expected Utility Hypothesis

Review of Economic Studies, 1971
The five experiments described in this paper are the modest final product of an initially ambitious attempt to verify a theory of choice under uncertainty. Yaari [5] in 1965 reported the results of some experiments he had performed in which he attempted to show that the acceptance of unfair gambles is better explained by the assumption that gamblers ...
exaly   +2 more sources

Social Aggregation Without the Expected Utility Hypothesis

, 2004
L'article examine les conditions qui permettent de satisfaire simultanément les versions ex ante et ex post du principe de Pareto, lorsqu'on cesse d'imposer l'hypothèse de l'utilité espérée aux préférences individuelles et sociales. Avec des probabilités subjectives qui peuvent varier, on obtient trois théorèmes d'impossibilité sans avoir à faire cette
Charles Blackorby, David Donaldson, Philippe Mongin   +2 more
openaire   +2 more sources

Expected Utility Hypothesis

Mark J Machina, Machina Mark J
exaly   +6 more sources