A PSEUDO-ENDOWMENT EFFECT, AND ITS IMPLICATIONS FOR SOME RECENT NONEXPECTED UTILITY-MODELS

被引：29

作者：

PRELEC, D

机构：

[1] Graduate School of Business Administration, Harvard University, Boston, 02163, MA, Soldiers Field

来源：

JOURNAL OF RISK AND UNCERTAINTY | 1990年 / 3卷 / 03期

关键词：

Machina's Hypothesis II; nonexpected utility; pseudo-endowment; quasi-convexity;

D O I：

10.1007/BF00116783

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This article describes a modification of the Allais paradox that induces preferences inconsistent with two conditions weaker than the independence axiom, namely quasi-convexity (a special case of which is the betweenness axom), and Hypothesis II of Machina (also called fanning-out). These violations can be formally derived from prospect theory by invoking a nonliner transformation of probability into decision weight. © 1990 Kluwer Academic Publishers.

引用

页码：247 / 259

页数：13

共 28 条

[1] BEHAVIOR OF THE RATIONAL MAN BEFORE RISK - CRITICISM OF AMERICAN SCHOOL POSTULATES AND AXIOMS [J].