Subjective expected utility with non-increasing risk aversion

Authors
  • P.P. Wakker
Publication date 1989
Journal Annals of Operations Research
Volume | Issue number 22
Pages (from-to) 219-228
Organisations
  • Faculty of Economics and Business (FEB) - Amsterdam School of Economics Research Institute (ASE-RI)
Abstract It is shown that assumptions about risk aversion, usually studied under the presupposition of expected utility maximization, have a surprising extra merit at an earlier stage of the measurement work: together with the sure-thing principle, these assumptions imply subjective expected utility maximization, for monotonic continuous weak orders.
Document type Article
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