Empirical evaluation of four models of buying and selling prices of gambles

DOI10.1016/j.jmp.2016.05.007zbMath1396.91175OpenAlexW2422902550MaRDI QIDQ730174

Sherry Yeary, Michael H. Birnbaum, R. Duncan Luce, Li Zhao

Publication date: 23 December 2016

Published in: Journal of Mathematical Psychology (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/j.jmp.2016.05.007

zbMATH Keywords

utilitychoiceloss aversioncontingent valuationendowment effectcumulative prospect theorywillingness to pay (WTP)preference reversalsselling priceconfigural weightingwillingness to accept (WTA)buying priceviewpoint

Mathematics Subject Classification ID

Utility theory (91B16) Individual preferences (91B08)

Related Items (10)

Causes of Allais common consequence paradoxes: an experimental dissection ⋮ A one-line proof for complementary symmetry ⋮ Certainty equivalent and utility indifference pricing for incomplete preferences via convex vector optimization ⋮ Complementary symmetry in cumulative prospect theory with random reference ⋮ On reference dependence and complementary symmetry ⋮ An axiomatization of the Goldstein-Einhorn weighting functions ⋮ On complementary symmetry under cumulative prospect theory ⋮ On a disparity between willingness to pay and willingness to accept under the Rank-Dependent Utility model ⋮ Empirical evaluation of third-generation prospect theory ⋮ A consequence of complementary symmetry

Cites Work

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• Ambiguity aversion in the small and in the large for weighted linear utility
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