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• W2060065711 abstract "Abstract An account of non-expected utility is given which resumes concepts of μ – σ -analysis from statistical decision theory and combines them with standard principles of preference theory such as weak order, continuity and stochastic dominance. A three-parameter family of probability-dependent utility functions is specified, which is governed by the decision maker's aspiration level, distribution of present wealth, or status quo, and discount parameter for future risks. The approach offers a simple resolution of the Allais Paradox and explains basic patterns of probability-dependent risk attitudes arising in theoretical and applied decision analysis." @default.
• W2060065711 created "2016-06-24" @default.
• W2060065711 creator A5045014525 @default.
• W2060065711 date "2002-01-01" @default.
• W2060065711 modified "2023-09-27" @default.
• W2060065711 title "On the statistical foundations of non-linear utility theory: The case of status quo-dependent preferences" @default.
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• W2060065711 doi "https://doi.org/10.1016/s0377-2217(01)00079-0" @default.
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