Risk, ambiguity, and the rank-dependence axioms
MJ Machina - American Economic Review, 2009 - aeaweb.org
Choice problems in the spirit of Ellsberg (1961) suggest that rank-dependent (“Choquet
expected utility”) preferences over subjective gambles might be subject to the same …
expected utility”) preferences over subjective gambles might be subject to the same …
On the experimental robustness of the Allais paradox
Abstract The Allais Paradox, or the common consequence effect, is a well-known behavioral
regularity in individual decision-making under risk. Data from 81 experiments reported in 29 …
regularity in individual decision-making under risk. Data from 81 experiments reported in 29 …
Betting on Machina's reflection example: An experiment on ambiguity
O L'Haridon, L Placido - Theory and decision, 2010 - Springer
In a recent article, Machina (Am Econ Rev forthcoming, 2008) suggested choice problems in
the spirit of Ellsberg (QJ Econ 75: 643–669, 1961), which challenge tail-separability, an …
the spirit of Ellsberg (QJ Econ 75: 643–669, 1961), which challenge tail-separability, an …