AUSI expected utility: An anticipated utility theory of relative disappointment aversion
نویسندگان
چکیده
In this paper we provide an axiomatization for a representation of preferences over lotteries that is only one parameter richer than expected utility. Our model is a special case of Rank-Dependent Expected Utility. Moreover, we show that the same restriction on this parameter is required for: risk aversion; intuitive comparative static results for a reasonably general class of economically interesting choice problems; and accommodating some of the most well-known violations of Expected Utility Theory. # 1998 Elsevier Science B.V. All rights reserved. JEL classi®cation: D81
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تاریخ انتشار 1998