Accounting for optimism and pessimism in expected utility
type: Item
instance of: scholarly article
title: Accounting for optimism and pessimism in expected utility
zbMATH Open document ID: 1243.91046
author: Craig S. Webb
author: Horst Zank
published in: Journal of Mathematical Economics
publication date: 2012-01-25T00:00:00Z
full work available at URL: EDP-1111.pdf
review text: This paper tackles the problem of characterizing preference relations between lotteries modified by mixing with probabilities centered at the extremes of their supports. Conditions for the representation of a preference by a non-extreme outcome expected utility are established under assumptions like stochastic dominance, Jensen continuity, von Neumann-Morgenstern independence and independence of probability shifts.
reviewed by: Annibal Parracho Sant'Anna
Mathematics Subject Classification ID: 91B16
Mathematics Subject Classification ID: 91B08
Mathematics Subject Classification ID: 91B70
zbMATH DE Number: 6000200
zbMATH Keywords: Expected utility
zbMATH Keywords: rank dependent utility
zbMATH Keywords: preference foundation
zbMATH Keywords: prospect theory
MaRDI profile type: Publication
OpenAlex ID: W2102909545
Wikidata QID: Q58318706
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DOI: 10.1016/J.JMATECO.2011.09.007
description: scientific article; zbMATH DE number 6000200