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Correcting expected utility for comparisons between alternative outcomes: A unified parameterization of regret and disappointment
16 references·15 citing·20 second hop
Correcting expected utility for comparisons between alternative outcomes: A unified parameterization of regret and disappointment (2008)Correcting expected utility for compariso…The Expected Utility Model: Its Variants, Purposes, Evidence and Limitations (2007)The Expected Utility Model: I…Developments in Non-Expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk (2000)Developments in Non-Expected …Choice Under Uncertainty: Problems Solved and Unsolved (1992)Choice Under Uncertainty: Pro…A Theory of Disappointment Aversion (1991)A Theory of Disappointment Av…Prospect theory: An analysis of decision under risk (1988)Prospect theory: An analysis …Disappointment in Decision Making Under Uncertainty (1985)Disappointment in Decision Ma…Regret Theory: An Alternative Theory of Rational Choice Under Uncertainty (1982)Regret Theory: An Alternative…Regret in Decision Making under Uncertainty (1982)Regret in Decision Making und…The Framing of Decisions and the Psychology of Choice (1981)The Framing of Decisions and …Prospect Theory: An Analysis of Decision under Risk (1979)Prospect Theory: An Analysis …Risk Aversion in the Small and in the Large (1976)Risk Aversion in the Small an…Reversals of preference between bids and choices in gambling decisions. (1971)Reversals of preference betwe…Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small an…Risk, Ambiguity, and the Savage Axioms (1961)Risk, Ambiguity, and the Sava…Exposition of a New Theory on the Measurement of Risk (1954)Exposition of a New Theory on…Le Comportement de l'Homme Rationnel devant le Risque: Critique des Postulats et Axiomes de l'Ecole Americaine (1953)Le Comportement de l'Homme Ra…Cloud model-based multi-stage multi-attribute decision-making method under probabilistic interval-valued hesitant fuzzy environment (2024)Cloud model-based multi-stage…The Impact of Health-Related Emotions on Belief Formation and Behavior (2017)The Impact of Health-Related …Satisfied two-sided matching: a method considering elation and disappointment of agents (2017)Satisfied two-sided matching:…Anomalies in Net Present Value, Returns and Polynomials, and Regret Theory in Decision-Making (2016)Anomalies in Net Present Valu…Regret theory-based group decision-making with multidimensional preference and incomplete weight information (2015)Regret theory-based group dec…Optimal output for the regret-averse competitive firm under price uncertainty (2015)Optimal output for the regret…Grey stochastic multi-criteria decision-making based on regret theory and TOPSIS (2015)Grey stochastic multi-criteri…Regret and Regulation (2014)Regret and RegulationIntegrated Transport Planning Framework Involving Combined Utility Regret Approach (2014)Integrated Transport Planning…An Allais paradox without mental time travel (2014)An Allais paradox without men…Essays on behavioral decision making (2013)Essays on behavioral decision…The role of regret in the owner-manager decision-making in the family business: A conceptual approach (2012)The role of regret in the own…Optimal Output for the Regret-Averse Competitive Firm Under Price Uncertainty (2012)Optimal Output for the Regret…State-dependent congestion pricing with reference-dependent preferences (2011)State-dependent congestion pr…Further explanations for context effects: a perspective of ideal and reference points (2010)Further explanations for cont…Judgment under Uncertainty: Heuristics and Biases (1974)Perception of Risk (1987)Toward a Theory of Situation Awareness in Dynamic Systems (1995)Framing Processes and Social Movements: An Overview and Assessment (2000)Judgment under Uncertainty: Heuristics and Biases (1975)Exploration and Exploitation in Organizational Learning (1991)Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance (2007)Theory of games and economic behavior (2019)Advances in prospect theory: Cumulative representation of uncertainty (1992)Individual differences in reasoning: Implications for the rationality debate? (2000)Risk as feelings. (2001)Status quo bias in decision making (1988)Financial Intermediation and Delegated Monitoring (1984)Well-being : the foundations of hedonic psychology (1999)Risk Aversion and Incentive Effects (2002)A perspective on judgment and choice: Mapping bounded rationality. (2003)Maps of Bounded Rationality: Psychology for Behavioral Economics (2003)On the measurement of inequality (1970)THE VALUATION OF RISK ASSETS AND THE SELECTION OF RISKY INVESTMENTS IN STOCK PORTFOLIOS AND CAPITAL BUDGETS**This paper is another in a series of interrelated theoretical and statistical studies of corporate financial and investment policies being made under grants from the Rockefeller Foundation, and more recently the Ford Foundation, to the Harvard Business School. The generous support for this work is most gratefully acknowledged. The author is also much indebted to his colleagues Professors Bishop, Christenson, Kahr, Raiffa, and (especially) Schlaifer, for extensive discussion and commentary on an earlier draft of this paper; but responsibility for any errors or imperfections remains strictly his own.[Professor Sharpe's paper, “Capital Asset Prices: A Theory of Market Equilibrium Under Conditions of Risk” (Journal of Finance, September 1964) appeared after this paper was in final form and on its way to the printers. My first section, which parallels the first half of his paper (with corresponding conclusions), sets the algebraic framework for sections II, III and VI, (which have no counterpart in his paper) and for section IV on the equilibrium prices of risk assets, concerning which our results differ significantly for reasons which will be explored elsewhere. Sharpe does not take up the capital budgeting problem developed in section V below.] (1975)The arbitrage theory of capital asset pricing (1976)
this work references cited by second hop

References

  • 1979Prospect Theory: An Analysis of Decision under Risk48,459 cited
  • 1988Prospect theory: An analysis of decision under risk32,475 cited
  • 1981The Framing of Decisions and the Psychology of Choice17,834 cited
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  • 1964Risk Aversion in the Small and in the Large4,964 cited
  • 1976Risk Aversion in the Small and in the Large4,655 cited
  • 1953Le Comportement de l'Homme Rationnel devant le Risque: Critique des Postulats et Axiomes de l'Ecole Americaine4,117 cited
  • 1982Regret Theory: An Alternative Theory of Rational Choice Under Uncertainty4,041 cited
  • 1982Regret in Decision Making under Uncertainty2,990 cited
  • 1954Exposition of a New Theory on the Measurement of Risk2,787 cited
  • 2000Developments in Non-Expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk1,902 cited
  • 1971Reversals of preference between bids and choices in gambling decisions.1,571 cited
  • 2007The Expected Utility Model: Its Variants, Purposes, Evidence and Limitations1,428 cited
  • 1991A Theory of Disappointment Aversion1,343 cited
  • 1985Disappointment in Decision Making Under Uncertainty1,260 cited

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  • 1992Choice Under Uncertainty: Problems Solved and Unsolved948 cited
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    • 2012The role of regret in the owner-manager decision-making in the family business: A conceptual approach47 cited
    • 2024Cloud model-based multi-stage multi-attribute decision-making method under probabilistic interval-valued hesitant fuzzy environment38 cited
    • 2011State-dependent congestion pricing with reference-dependent preferences31 cited
    • 2016Anomalies in Net Present Value, Returns and Polynomials, and Regret Theory in Decision-Making29 cited
    • 2014Integrated Transport Planning Framework Involving Combined Utility Regret Approach26 cited
    • 2015Optimal output for the regret-averse competitive firm under price uncertainty21 cited
    • 2014An Allais paradox without mental time travel15 cited
    • 2014Regret and Regulation7 cited
    • 2012Optimal Output for the Regret-Averse Competitive Firm Under Price Uncertainty3 cited
    • 2010Further explanations for context effects: a perspective of ideal and reference points1 cited
    • 2017The Impact of Health-Related Emotions on Belief Formation and Behavior1 cited
    • 2013Essays on behavioral decision making0 cited