1996-12-01
The sure-thing principle and the comonotonic sure-thing principle: An axiomatic analysis
Publication
Publication
Journal of Mathematical Economics , Volume 25 - Issue 2 p. 213- 227
This paper compares classical expected utility with the more general rank-dependent utility models. It shows that the difference between the sure-thing principle for preferences of expected utility and its comonotonic generalization in rank-dependent utility provides the exact demarcation between expected utility and rank-dependent models.
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| doi.org/10.1016/0304-4068(95)00721-0, hdl.handle.net/1765/23106 | |
| Journal of Mathematical Economics | |
| Organisation | Erasmus School of Economics |
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Wakker, P. (1996). The sure-thing principle and the comonotonic sure-thing principle: An axiomatic analysis. Journal of Mathematical Economics, 25(2), 213–227. doi:10.1016/0304-4068(95)00721-0 |
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