The DOI matches its Crossref record; 5 of the 5 references it cites were found in a registry or an index.
Risk Attitudes and Decision Weights
Abstract
To accommodate the observed pattern of risk-aversion and risk-seeking, as well as common violations of expected utility (e.g., the certainty effect), we introduce and characterize a weighting function according to which an event has greater impact when it turns impossibility into possibility, or possibility into certainty, than when it merely makes a possibility more or less likely. We show how to compare such weighting functions (of different individuals) with respect to the degree of departure from expected utility, and we present a method for comparing an individual's weighting functions for risk and for uncertainty.
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Citations
Cites
Prospect Theory: An Analysis of Decision under Risk
Kahneman, D., & Tversky, A. (1979) · Econometrica · doi:10.2307/1914185 · Cited by 48,524
Self-citationAdvances in prospect theory: Cumulative representation of uncertainty
Tversky, A., & Kahneman, D. (1992) · Journal of Risk and Uncertainty · doi:10.1007/bf00122574 · Cited by 15,467
Self-citation“Risk, Ambiguity, and the Savage Axioms.”
Ellsberg, D. (1961) · The Quarterly Journal of Economics · doi:10.2307/1884324 · Cited by 7,891
Regret Theory: An Alternative Theory of Rational Choice Under Uncertainty
Loomes, G., & Sugden, R. (1982) · The Economic Journal · doi:10.2307/2232669 · Cited by 4,042
Preference and belief: Ambiguity and competence in choice under uncertainty
Heath, C., & Tversky, A. (1991) · Journal of Risk and Uncertainty · doi:10.1007/bf00057884 · Cited by 1,654
Self-citation
Cited by
Representativeness revisited: Attribute substitution in intuitive judgment.
Kahneman, D., & Frederick, S. (2002) · Heuristics and Biases · doi:10.1017/cbo9780511808098.004 · Cited by 3,476
Slovic, P., Finucane, M., Peters, E., & MacGregor, D. G. (2002) · Heuristics and Biases · doi:10.1017/cbo9780511808098.025 · Cited by 2,349
Developments in Non-Expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk
Starmer, C. (2000) · Journal of Economic Literature · doi:10.1257/jel.38.2.332 · Cited by 1,899
Support theory: a nonextensional representation of subjective probability
Tversky, A., & Koehler, D. J. (1994) · Psychological Review · doi:10.1037/0033-295x.101.4.547 · Cited by 1,167
Self-citationParameter-Free Elicitation of Utility and Probability Weighting Functions
Abdellaoui, M. (2000) · Management Science · doi:10.1287/mnsc.46.11.1497.12080 · Cited by 926
Metadata
- Authors
- Tversky, A., & Wakker, P.
- Venue
- Econometrica
- Publisher
- JSTOR
- Published
- 1995-11
- Volume
- 63
- Issue
- 6
- Pages
- 1255
- ISSN
- 0012-9682
- OpenAlex
- W2120947277
- Cited by
- 569
- References
- 5
- FWCI
- 7.72
- Type
- journal article
- Language
- en
- Open access
- closed
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