On the Intuition of Rank-Dependent Utility
نویسندگان
چکیده
Among the most popular models for decision under risk and uncertainty are the rank-dependent models, introduced by Quiggin and Schmeidler. Central concepts in these models are rank-dependence and comonotonicity. It has been suggested in the literature that these concepts are technical tools that have no intuitive or empirical content. This paper describes such contents. As ¤corresponding author: Peter P. Wakker, CentER, Tilburg University, P.O. Box 90153, Tilburg, 5000 LE, The Netherlands, 31-13.466.30.45 (S), 31-13.466.32.80 (F), 31-71.532.39.81 (H), [email protected]
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تاریخ انتشار 2000