Reconciling introspective utility with revealed preference: Experimental arguments based on prospect theory

By Mohammed Abdellaoui, C. Barrios, Peter P. Wakker. 2007

166 citations recorded by the source corpus.

Subfields: Economics and Econometrics, General Decision Sciences, Safety Research

View Paper: https://www.semanticscholar.org/paper/ebfdd395cdf11793b00938bacf5224e047cd20b9

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Citations in the corpus

Modeling uncertainty in multi-criteria decision analysis (2012, background): “Some supporting evidence for this claim has recently been provided in the context of non-expected utility [2].”
Measuring the time stability of Prospect Theory preferences (2010, unknown): “A second important aspect is to decide whether to estimate the PT parameters simultaneously from a number of certainty equivalents (CE) or to make use of one of the advanced “chained” elicitation methods that have been developed and that allow an independent elicitation of loss aversion, diminishing”
Higher Order Risk Attitudes, Demographics, and Financial Decisions (2011, background): “The CRRA family has sometimes been criticized because the empirical evidence suggests that relative risk aversion increases with wealth (Abdellaoui et al. 2007; Holt and Laury 2002).”
Models of Stochastic Choice and Decision Theories: Why Both are Important for Analyzing Decisions (2010, unknown): “For EUT with CRRA utility function, vector q consists only of one element: a coefficient of relative risk aversion r. EP utility function is given by u x D 1 e ˛Ðx 1 r/ 1 r ˛ , where ˛ 6D 0 (e.g. Abdellaoui et al., 2007).”
A tractable method to measure utility and loss aversion under prospect theory (2008, background): “and Abdellaoui, Barrios, and Wakker (2007) found that the utility for gains was concave both”
Prospect Theory and the Brain (2009, background): “Other common functional forms include the logarithmic function v(x)5 ln(α1 x), originally proposed by Bernoulli (1738), which captures the notion that marginal utility is proportional to wealth, and quadratic v(x)5αx2 x(2), which can be reformulated in terms of a prospect’s mean and variance, which ”
Social comparison and risky choices (2009, unknown): “Tversky and Kahneman (1992); Gneezy and Potters (1997); Abdellaoui et al. (2007)). A second behavioral regularity that shows the importance of reference dependence is the reflection effect. Kahneman and Tversky (1979) found that a Fig. 1 Lottery screens. Each panel shows a decision situation. The bl”