Some implications of a more general form of regret theory
type: Item
instance of: scholarly article
title: Some implications of a more general form of regret theory
zbMATH Open document ID: 0633.90003
DOI: 10.1016/0022-0531(87)90020-2
author: Graham Loomes
author: Robert Sugden
published in: Journal of Economic Theory
publication date: 1987-01-01T00:00:00Z
review text: Regret theory entails the possibility of non-transitive pairwise choices. It therefore raises questions about how individuals choose from sets of more than two actions, especially when there exists a subset of pairs of actions over which preferences cycle. A generalization of regret theory is suggested and is compared and contrasted with Fishburn's generalization of SSB utility theory. It is also shown that under this generalization an individual with non-transitive pairwise preferences will not be caught in a never-ending cycle and is not vulnerable to being ``money-pumped'' into bankruptcy.
Mathematics Subject Classification ID: 91B08
Mathematics Subject Classification ID: 91B16
zbMATH DE Number: 4031350
zbMATH Keywords: Regret theory
zbMATH Keywords: non-transitive pairwise choices
zbMATH Keywords: SSB utility theory
zbMATH Keywords: non- transitive pairwise preferences
MaRDI profile type: Publication
full work available at URL: 0022-0531(87)90020-2
OpenAlex ID: W1989607596
cites work: Regret in Decision Making under Uncertainty
cites work: Nontransitive measurable utility
cites work: Transitive measurable utility
cites work: Dominance in SSB utility theory
cites work: Regret theory and measurable utility
cites work: "Expected Utility" Analysis without the Independence Axiom
cites work: Q5571447
description: scientific article; zbMATH DE number 4031350