Results 261 to 270 of about 792,883 (326)

The Expected Utility Hypothesis and Demand‐Supply Restrictions

American Journal of Agricultural Economics, 1978
AbstractThe implications of expected utility theory are examined in order to determine restrictions relevant to reduced form econometric models. In general, Hicksian certainty restrictions do not hold under risk aversion. However, under output price uncertainty, the qualitative nature of the Hicksian restrictions are generally preserved for a commonly ...
Rulon D. Pope
semanticscholar   +4 more sources

Firm's hedging behavior without the expected utility hypothesis

Economics Letters, 1986
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Zvi Safra, Itzhak Zilcha
semanticscholar   +4 more sources

A Homiletic Exposition of the Expected Utility Hypothesis

Economica, 1977
The expected utility hypothesis is an important and celebrated result which allows some sense to be made of decision-making under uncertainty. It is however a result made up of many pieces. Here an attempt is made to make as clear as possible the assumptions used in deriving the expected utility hypothesis, and so to see which ones are needed to ...
Charles Blackorby, Russell Davidson, David Donaldson   +2 more
semanticscholar   +3 more sources

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, Itzhak Zilcha
semanticscholar   +4 more sources

The Expected Utility Hypothesis as Immunity against the "Legal" Utilization of the Money Pump and Underachiever Methods

Southern Economic Journal, 1994
The expected utility hypothesis is somewhat controversial.' Not only has it met difficulty in experimental studies,2 but its theoretical status and traditional defense have been questioned [6; 3]. In particular, the argument that non-linear preferences allow an individual to make book against himself has been refined in Green [3].
Allan Persky
semanticscholar   +3 more sources

The Expected-Utility Hypothesis and the Measurability of Utility

Journal of Political Economy, 1952
Milton Friedman, Leonard J. Savage
semanticscholar   +3 more sources

Revealed preference, stochastic dominance, and the expected utility hypothesis

Journal of Economic Theory, 1992
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Kim C. Border
semanticscholar   +3 more sources

An Appraisal of Expected Utility Hypothesis Tests Constructed from Responses to Hypothetical Questions and Experimental Choices

American Journal of Agricultural Economics, 1982
A decision problem exists when the possible consequences of a decision are important and the best choice is not obvious (Anderson, Dillon, Hardaker). Moreover, when the consequences of each choice are described in probabilistic terms, the decision problem is said to exist under uncertainty.
Lindon J. Robison
semanticscholar   +4 more sources

THE VALIDITY OF THE EXPECTED UTILITY HYPOTHESIS***

Metroeconomica, 1968
S. N. Afriat
semanticscholar   +3 more sources

The Expected Utility Hypothesis and the Selection of Optimal Deductibles for a Given Insurance Policy

The Journal of Business, 1969
John Gould
semanticscholar   +3 more sources