Two-Stage Lotteries without the Reduction Axiom
From MaRDI portal
Publication:3352796
DOI10.2307/2938207zbMath0728.90013OpenAlexW3122837968WikidataQ114588106 ScholiaQ114588106MaRDI QIDQ3352796
Publication date: 1990
Published in: Econometrica (Search for Journal in Brave)
Full work available at URL: http://www.econ.ucla.edu/workingpapers/wp552.pdf
Related Items (79)
Unbounded behaviorally consistent stopping rules ⋮ Shunning uncertainty: the neglect of learning opportunities ⋮ A model of state aggregation ⋮ Conditional non-expected utility preferences induced by mixture of lotteries: a note on the normative invalidity of expected utility theory ⋮ Preferences and metric structures of spaces of alternatives ⋮ On the nonexistence of Blackwell's theorem-type results with general preference relations ⋮ Schur convexity, quasi-convexity and preference for early resolution of uncertainty ⋮ Skewed noise ⋮ Hybrid decision model and the ranking of experiments ⋮ A dual approach to ambiguity aversion ⋮ Decisions under risk and uncertainty: A survey of recent developments ⋮ On Nash's hidden assumption ⋮ Risk taking with background risk under recursive rank-dependent utility ⋮ The Ellsberg paradox: a challenge to quantum decision theory? ⋮ Games with second-order expected utility ⋮ The ex ante aggregation of opinions under uncertainty ⋮ Estimating ambiguity aversion in a portfolio choice experiment ⋮ ∀ or ∃? ⋮ History-dependent risk attitude ⋮ Ellsberg meets Keynes at an urn ⋮ Testing negative value of information and ambiguity aversion ⋮ Preference for hope: a behavioral definition ⋮ Calibration without reduction for non-expected utility ⋮ Eliciting second-order beliefs ⋮ Vickrey auctions in the theory of expected utility with rank-dependent probabilities ⋮ An axiomatic account of status quo-dependent non-expected utility: pragmatic constraints on rational choice under risk ⋮ A test of (weak) certainty independence ⋮ Nest-monotonic two-stage acts and exponential probability capacities ⋮ The momentum ambiguity and investor trading behavior ⋮ Negative recency, randomization device choice, and reduction of compound lotteries ⋮ Impact of Compound and Reduced Specification on Valuation of Projects with Multiple Risks ⋮ Anticipated regret as an explanation of uncertainty aversion ⋮ Second-order ambiguous beliefs ⋮ Ambiguity and the Bayesian Paradigm ⋮ Inferring beliefs as subjectively imprecise probabilities ⋮ The ordinal egalitarian bargaining solution for finite choice sets ⋮ Dynamic choice, independence and emotions ⋮ Rank- and sign-dependent linear utility models for binary gambles ⋮ Eliciting risk preferences using choice lists ⋮ Atemporal dynamic consistency and expected utility theory ⋮ Portfolio selection with hyperexponential utility functions ⋮ Recursive robust estimation and control without commitment ⋮ Lexicographic state-dependent subjective expected utility ⋮ Focus theory of choice and its application to resolving the St. Petersburg, Allais, and Ellsberg paradoxes and other anomalies ⋮ Existence and dynamic consistency of Nash equilibrium with non-expected utility preferences ⋮ Recursive non-expected utility: connecting ambiguity attitudes to risk preferences and the level of ambiguity ⋮ Reconsidering the common ratio effect: the roles of compound independence, reduction, and coalescing ⋮ Different frames for the independence axiom: An experimental investigation in individual decision making under risk ⋮ Many good choice axioms: When can many-good lotteries be treated as money lotteries? ⋮ Stochastic dominance under Bayesian learning ⋮ Subjective expected utility theory revisited: A reductio ad absurdum paradox ⋮ Risk attitudes in axiomatic decision theory: a conceptual perspective ⋮ Delayed agreements and nonexpected utility ⋮ Order indifference and rank-dependent probabilities ⋮ Choice theory when agents can randomize ⋮ Bargaining and boldness ⋮ Consistency in the probabilistic assignment model ⋮ Rank-dependent preferences without ranking axioms ⋮ An additive model of decision making under risk and ambiguity ⋮ Conditional expected utility criteria for decision making under ignorance or objective ambiguity ⋮ Counterexamples to Segal's measure representation theorem ⋮ The measure representation: A correction ⋮ The Becker-Degroot-Marschak mechanism and generalized utility theories: Theoretical predictions and empirical observations ⋮ Why do people prefer randomisation? An experimental investigation ⋮ A generalization of quantal response equilibrium via perturbed utility ⋮ A theory of subjective compound lotteries ⋮ Imprecise probabilistic beliefs as a context for decision-making under ambiguity ⋮ The sure-thing principle and the comonotonic sure-thing principle: An axiomatic analysis ⋮ Constant risk aversion ⋮ Intrinsic preference for information ⋮ Uncertainty from the small to the large ⋮ RECURSIVE AMBIGUITY AND MACHINA'S EXAMPLES ⋮ Dynamic decision making without expected utility: an operational approach ⋮ Uncertainty and compound lotteries: calibration ⋮ All probabilities are equal, but some probabilities are more equal than others ⋮ Separating marginal utility and probabilistic risk aversion ⋮ Payoff equivalence in sealed bid auctions and the dual theory of choice under risk ⋮ A remark on bargaining and non-expected utility ⋮ Violations of the betweenness axiom and nonlinearity in probability
This page was built for publication: Two-Stage Lotteries without the Reduction Axiom