Regret Theory: An Alternative Theory of Rational Choice Under Uncertainty |
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文献名称 | Regret Theory: An Alternative Theory of Rational Choice Under Uncertainty | ||||||
文献作者 | Graham Loomes; Robert Sugden | ||||||
作者所在单位 | Graham Loomes and Robert Sugden | ||||||
文献分类 | 已发表文献 | ||||||
学科一级分类 | 统计 | ||||||
学科二级分类 | 统计学 | ||||||
文献摘要 |
The main body of current economic analysis of choice under uncertainty is built upon a small number of basic axioms, formulated in slightly different ways by von Neumann and Morgenstern (1947), Savage (1954) and others. These axioms are widely believed to represent the essence of rational behaviour under uncertainty. However, it is well known that many people behave in ways that systematically violate these axioms.' |
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参考文献 |
Allais, M. (1953). `Le comportement de l'homme rationnel devant le risque; critique des postulats et axiomes de 1'ecole Americaine.' Econometrica, vol. 21, pp. 503-46. and Hagen, 0. (1979). Expected Utility Hypothesis and the Allais Paradox. Dordrecht: Reidel. Bell, D. E. (1881). `Regret in decision-making under uncertainty.' Harvard Business School Working Paper 82-15. Fishburn, P. C. (1881). `Nontransitive measurable utility.' Bell Laboratories Economics Discussion Paper 209. Friedman, M. and Savage, L. J. (1948). `The utility analysis of choices involving risks.' Journal of Political Economy, vol. 56, pp. 279-304. Grether, D. M. and Plott, C. R. (1979). `Economic theory of choice and the preference reversal phenomenon.' American Economic Review, vol. 69, pp. 623-38. Hershey, J. C. and Schoemaker, P. J. H. (1980 a). `Prospect theory's reflection hypothesis: a critical examination.' Organizational Behavior and Human Performance, vol. 25, PP- 395-418. and - (1980 b). `Risk taking and problem context in the domain of losses: an expected utility analysis.' Journal of Risk and Insurance, vol. 47, pp. 111-32. Hirschleifer, J. (1966). `Investment decisions under uncertainty: applications of the state preference approach.' Quarterly Journal of Economics, vol. 8o, pp. 252-77. Kahneman, D. and Tversky, A. (1979). `Prospect Theory: an analysis of decision under risk.' Econo- metrica, vol. 47, pp. 263-91- Keeney, R. L. and Raiffa, H. (1976). Decisions with multiple objectives. New York: Wiley. Lichtenstein, S. and Slovic, P. (1971). `Reversals of preference between bids and choices in gambling decisions.' Journal of Experimental Psychology, vol. 89, pp. 46-55. and - (1973). `Response-induced reversals of preference in gambling: an extended repli- cation in Las Vegas.' Journal of Experimental Psychology, vol. sot, pp. 16-20. Lindman, H. R. (1971). `Inconsistent preferences among gambles.' Journal of Experimental Psychology, vol. 89, PP- 390-7• Loomes, G. and Sugden, R. (1982). `A rationale for preference reversal.' Newcastle Discussion Papers in Economics No. 63. Machina, M. J. (1982). "`Expected utility" analysis without the independence axiom.' Econometrica, vol. 50, PP. 277-323- MacKay, A. F. (1980). Arrow's Theorem: the Paradox of Social Choice. New Haven, Conn.: Yale Uni- versity Press. Markowitz, H. M. (1952). `The utility of wealth.' Journal of Political Economy, vol. 6o, pp. 151-8. Morgenstern, 0. (1979), `Some reflections on utility.' In Expected Utility Hypotheses and the Allais Paradox. (Ed. M. Allais and 0. Hagen). Dordrecht: Reidel. Moskowitz, H. (1974). `Effects of problem presentation and feedback on rational behavior in Allais and Morlat type problems.' Decision Sciences, vol. 5, PP- 225-42- Payne, J. W., Laughhunn, D. J. and Crum, R. L. (1980). `Translation of gambles and aspiration level effects in risky choice behavior.' Management Science, vol. 26, pp. 1039-60. Savage, L. J. (195,). `The theory of statistical decision.' Journal of the American Statistical Association, vol. 46, PP- 55-67• (1954). The Foundations of Statistics. New York: Wiley. Schoemaker, P. J. H. (1980). Experiments on Decisions under Risk: the Expected Utility Hypothesis. Boston: Martinus Nijhoff. - (1982). `The expected utility model: its variants, purposes, evidence and limitations.' Journal of Economic Literature, forthcoming. Slovic, P. and Tversky, A. (1974). `Who accepts Savage's axiom?' Behavioral Science, vol. 19, pp. 368-73• Tversky, A. and Kahneman, D. (1981). `The framing of decisions and the psychology of choice.' Science, VOL 21 I, pp. 453-8. von Neumann, J. and Morgenstern, 0. (1947). Theory of Gaines and Economic Behaviour. (2nd edition). Princeton: Princeton University Press. |
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关键字 | Regret Theory; An Alternative Theory ; Rational Choice Under Uncertainty | ||||||
发表所在刊物(或来源) | The Economic Journal, Vol. 92, No. 368 (Dec., 1982), 805-824. | ||||||
发表时间 | Dec., 1982 | ||||||
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上传时间 | 2011-1-20 13:43 | ||||||
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