| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17342 |
| 来源ID | Working Paper 17342 |
| Uncertainty Equivalents: Testing the Limits of the Independence Axiom | |
| James Andreoni; Charles Sprenger | |
| 发表日期 | 2011-08-19 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | There is convincing experimental evidence that Expected Utility fails, but when does it fail, how severely, and for what fraction of subjects? We explore these questions using a novel measure we call the uncertainty equivalent. We find Expected Utility performs well away from certainty, but fails near certainty for about 40% of subjects. Comparing non-Expected Utility theories, we strongly reject Prospect Theory probability weighting, we support disappointment aversion if amended to allow violations of stochastic dominance, but find the u-v model of a direct preference for certainty the most parsimonious approach. |
| 主题 | Microeconomics ; Economics of Information |
| URL | https://www.nber.org/papers/w17342 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575016 |
| 推荐引用方式 GB/T 7714 | James Andreoni,Charles Sprenger. Uncertainty Equivalents: Testing the Limits of the Independence Axiom. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17342.pdf（724KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
