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http://dspace.mediu.edu.my:8181/xmlui/handle/10419/4129| Title: | Parametric weighting functions |
| Keywords: | D81 ddc:330 Comonotonic independence Probability weighting function Preference foundation Rank-dependent utility Entscheidung bei Unsicherheit Prospect Theory Erwartungsnutzen Theorie |
| Issue Date: | 16-Oct-2013 |
| Publisher: | Kiel Institute for the World Economy (IfW) Kiel |
| Description: | This paper provides preference foundations for parametric weighting functions under rankdependent utility. This is achieved by decomposing the independence axiom of expected utility into separate meaningful properties. These conditions allow us to characterize rank-dependent utility with power and exponential weighting functions. Moreover, by allowing probabilistic risk attitudes to vary within the probability interval, a preference foundation for rank-dependent utility with parametric inverse-S shaped weighting function is obtained. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/4129 |
| Other Identifiers: | http://hdl.handle.net/10419/4129 ppn:557146348 |
| Appears in Collections: | EconStor |
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