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Utility Bounce-Back (UBB) Hypothesis: The Power Of Expectation
SSRN Electronic Journal, 2014Would you rather be told of a raise or a reduction in your level of satisfaction? The obvious answer for a rational utility maximizing consumer is a raise. That is why the Utility Bounce Back (UBB) Hypothesis is proposes that your utility will bounce back if a reduction is made via the lowest point to the mid-level than if it is directly lowered to the
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RELAXING THE EXPECTED UTILITY HYPOTHESIS AND ENTRY/EXIT DECISIONS OF THE RISK-AVERSE FIRM
1990A risk-aversion theory is formulated directly from a preference relation, rather than with a utility function representation. An example concerning insurance demand provides intuitive support. This theory is applied to analyze firms' entry/exit decisions, the long run equilibrium of an industry and comparisons between firms with different risk ...
Finkelshtain, Israel +3 more
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Social Aggregation Without the Expected Utility Hypothesis
2004L'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 +2 more
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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].
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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].
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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.
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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.
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Economics Letters, 1980
Abstract It is shown that with only two observations on the asset demand functions of an investor, it is not possible to refute the hypothesis of expected utility maximization on the part of the investor as long as the axioms of revealed preference are satisfied.
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Abstract It is shown that with only two observations on the asset demand functions of an investor, it is not possible to refute the hypothesis of expected utility maximization on the part of the investor as long as the axioms of revealed preference are satisfied.
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Social Aggregation and the Expected Utility Hypothesis
SSRN Electronic Journal, 1998Charles Blackorby +2 more
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The Expected-Utility Hypothesis and the Measurability of Utility
Journal of Political Economy, 1952Milton Friedman, L. J. Savage
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1991
Regret and disappointment theory (R and D-theory) are discussed as alternatives to the expected utility hypothesis (EUH). The discussion is relative to a choice between two actions, where the consequences from each action are influenced from respectively two different sets of states of the world.
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Regret and disappointment theory (R and D-theory) are discussed as alternatives to the expected utility hypothesis (EUH). The discussion is relative to a choice between two actions, where the consequences from each action are influenced from respectively two different sets of states of the world.
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