The determinants of decision time in an ambiguous contextSpringer Science and Business Media LLC - - 2023
Anna Conte, Gianmarco De Santis, John D. Hey, Ivan Soraperra
AbstractThis paper builds on the data from a published paper on behaviour under ambiguity (Conte & Hey, 2013)—henceforth C&H—to explore the determinants of decision time. C&H categorized individual subjects as being of one of four types (of decision-maker)—Expected Utility, Smooth Ambiguity, Rank Dependent and Alpha Expected U...... hiện toàn bộ
Valuation of Multiple Environmental ProgramsSpringer Science and Business Media LLC - Tập 21 - Trang 95-115 - 2000
John W. Payne, David A. Schkade, William H. Desvousges, Chris Aultman
We examined sequence effects on willingness-to-pay (WTP) when people evaluate a series of environmental goods. Each respondent evaluated five different environmental goods using WTP and four evaluative attitude ratings. There was a strong sequence effect: WTP was much larger for the first good than for goods evaluated afterward. Also, total WTP for the bundle of five goods depended on which good w...... hiện toàn bộ
Disappointment without prior expectation: a unifying perspective on decision under riskSpringer Science and Business Media LLC - Tập 33 - Trang 197-215 - 2006
Philippe Delquié, Alessandra Cillo
The central idea of Disappointment theory is that an individual forms an expectation about a risky alternative, and may experience disappointment if the outcome eventually obtained falls short of the expectation. We abandon the hypothesis of a well-defined prior expectation: disappointment feelings may arise from comparing the outcome received with anyof the gamble’s outcomes that the individual f...... hiện toàn bộ
The value of a statistical life under changes in ambiguitySpringer Science and Business Media LLC - Tập 58 - Trang 1-15 - 2019
Han Bleichrodt, Christophe Courbage, Béatrice Rey
The value of a statistical life (VSL) is a key parameter in the analysis of government policy. Most policy decisions are made under ambiguity. This paper studies the effect of changes in ambiguity perception on the VSL. We propose a definition of increases in ambiguity perception based on Ekern’s (1980) definition of increases in risk. Ambiguity aversion alone is not sufficient to lead to an incre...... hiện toàn bộ
An Experimental Comparison of Induced and Elicited BeliefsSpringer Science and Business Media LLC - Tập 30 - Trang 169-188 - 2005
Terrance M. Hurley, Jason F. Shogren
Understanding choice under risk requires knowledge of beliefs and preferences. A variety of methods have been proposed to elicit peoples’ beliefs. The efficacy of alternative methods, however, has not been rigorously documented. Herein we use an experiment to test whether an induced probability can be recovered using an elicitation mechanism based on peoples’ predictions about a random event. We a...... hiện toàn bộ
Incorporating Framing into Prospect Theory Modeling: A Mixture-Model ApproachSpringer Science and Business Media LLC - Tập 29 - Trang 181-197 - 2004
Mei Wang, Paul S. Fischbeck
This paper illustrates the use of a statistical technique, finite mixture models, to fit the parameters in cumulative prospect theory. For a given decision, some individuals may adopt a gain frame, while others may adopt a loss frame. By using finite mixture models, the best fitting parameters can be obtained for the two subgroups, even though the information about subjective frames was not availa...... hiện toàn bộ
Parametric preference functionals under risk in the gain domain: A Bayesian analysisSpringer Science and Business Media LLC - Tập 50 - Trang 161-187 - 2015
Kelvin Balcombe, Iain Fraser
The performance of rank dependent preference functionals under risk is comprehensively evaluated using Bayesian model averaging. Model comparisons are made at three levels of heterogeneity plus three ways of linking deterministic and stochastic models: differences in utilities, differences in certainty equivalents and contextual utility. Overall, the “best model”, which is conditional on the form ...... hiện toàn bộ
Bồi thường cho cái gì? Phân tích các chiến lược bảo hiểm cho tài sản có thể sửa chữa Dịch bởi AI Springer Science and Business Media LLC - Tập 25 - Trang 47-64 - 2002
Pierre-François Koehl, Bertrand Villeneuve
Chúng tôi định nghĩa tài sản có thể sửa chữa là một hàng hóa không thể thay thế có chất lượng đang gặp nguy cơ, nhưng có thể được khôi phục một phần với một khoản chi phí. Các ví dụ bao gồm nhà cửa, ô tô và đặc biệt là sức khỏe, đối với những tài sản này, các phương pháp tài chính tiêu chuẩn thường bị đơn giản hóa quá mức. Để tối ưu hóa giá trị của bảo hiểm, công ty bảo hiểm và bên được bảo hiểm p...... hiện toàn bộ
#tài sản có thể sửa chữa #bồi thường #chiến lược bảo hiểm #sửa chữa #sở thích của người tiêu dùng
Interpersonal discountingSpringer Science and Business Media LLC - Tập 58 - Trang 17-42 - 2019
Rong Rong, Therese C. Grijalva, Jayson Lusk, W. Douglass Shaw
Many discounting choices affect both the decision maker and at least one other person. The interpersonal nature of these choices is not well explored because the current empirical literature primarily focuses on estimating individual discount rates. We design a laboratory experiment to elicit interpersonal discount rates where individuals consider present versus future consumption tradeoffs for ca...... hiện toàn bộ