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A Context-Dependent Model of the Gambling Effect
16 references·16 citing·24 second hopsampled
A Context-Dependent Model of the Gambling Effect (2002)A Context-Dependent Model of the Gambling…Theory of games and economic behavior (2019)Theory of games and economic …Developments in Non-Expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk (2000)Developments in Non-Expected …The Predictive Utility of Generalized Expected Utility Theories (1994)The Predictive Utility of Gen…Context-Dependent Preferences (1993)Context-Dependent PreferencesChoice in Context: Tradeoff Contrast and Extremeness Aversion (1992)Choice in Context: Tradeoff C…Prospect theory: An analysis of decision under risk (1988)Prospect theory: An analysis …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…Nontransitive measurable utility (1982)Nontransitive measurable util…Adding Asymmetrically Dominated Alternatives: Violations of Regularity and the Similarity Hypothesis (1982)Adding Asymmetrically Dominat…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…Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small an…Semiorders and a Theory of Utility Discrimination (1956)Semiorders and a Theory of Ut…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…Theory of Games and Economic Behavior (1945)Theory of Games and Economic …Chance theory: A separation of riskless and risky utility (2022)Chance theory: A separation o…Ordered Reference Dependent Choice (2021)Ordered Reference Dependent C…Gamblified digital product offerings: an experimental study of loot box menu designs (2021)Gamblified digital product of…A decision‐making model with utility from anticipation and disappointment (2019)A decision‐making model with …Violence and Risk Preference: Experimental Evidence from Afghanistan: Comment (2018)Violence and Risk Preference:…Labour supply with reference-dependent preferences (2018)Labour supply with reference-…Economic Analysis with Systematically Biased Agents (2016)Economic Analysis with System…A Tailor-Made Test of Intransitive Choice (2014)A Tailor-Made Test of Intrans…Tri-Reference Point Theory of Decision Making: From Principles to Applications (2013)Tri-Reference Point Theory of…Testing transitivity in choice under risk (2009)Testing transitivity in choic…Entropy-Related Measures of the Utility of Gambling (2009)Entropy-Related Measures of t…Empirical justification of the uncertain equivalence method (2009)Empirical justification of th…A theory of kindness, reluctance, and shame for social preferences (2008)A theory of kindness, relucta…UNCERTAIN EQUIVALENCE METHOD FOR CONTINUOUS ONE-DIMENSIONAL UTILITY ELICITATION (2007)UNCERTAIN EQUIVALENCE METHOD …Empirical Tests of Intransitivity Predicted by Models of Risky Choice (2006)Empirical Tests of Intransiti…The Uncertainty Effect: When a risky prospect is valued less than its worst possible outcome (2004)The Uncertainty Effect: When …The Framing of Decisions and the Psychology of Choice (1981)Advances in prospect theory: Cumulative representation of uncertainty (1992)Individual differences in reasoning: Implications for the rationality debate? (2000)Risk as feelings. (2001)Individual Choice Behavior (1962)Conditional logit analysis of qualitative choice behavior (1972)Elimination by aspects: A theory of choice. (1972)Adaptive strategy selection in decision making. (1988)Choice Based on Reasons: The Case of Attraction and Compromise Effects (1989)Risk, Ambiguity, and the Savage Axioms (1961)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)Toward a positive theory of consumer choice (1980)Non-cooperative games (1989)Status quo bias in decision making (1988)Correlated Equilibrium as an Expression of Bayesian Rationality (1987)Multiagent systems: algorithmic, game-theoretic, and logical foundations (2009)Evolutionary Game Theory (2011)Financial Intermediation and Delegated Monitoring (1984)Well-being : the foundations of hedonic psychology (1999)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)
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References

  • 1979Prospect Theory: An Analysis of Decision under Risk48,459 cited
  • 1988Prospect theory: An analysis of decision under risk32,475 cited
  • 2019Theory of games and economic behavior16,630 cited
  • 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
  • 1945Theory of Games and Economic Behavior3,887 cited
  • 1982Regret in Decision Making under Uncertainty2,990 cited
  • 1982Adding Asymmetrically Dominated Alternatives: Violations of Regularity and the Similarity Hypothesis1,944 cited
  • 2000Developments in Non-Expected Utility Theory: The Hunt for a Descriptive Theory of Choice under Risk1,902 cited
  • 1992Choice in Context: Tradeoff Contrast and Extremeness Aversion1,727 cited
  • 1993Context-Dependent Preferences1,305 cited
  • 1956Semiorders and a Theory of Utility Discrimination985 cited
  • 1994The Predictive Utility of Generalized Expected Utility Theories740 cited

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  • 1982Nontransitive measurable utility495 cited
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    • 2021Gamblified digital product offerings: an experimental study of loot box menu designs20 cited
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    • 2013Tri-Reference Point Theory of Decision Making: From Principles to Applications8 cited
    • 2009Entropy-Related Measures of the Utility of Gambling8 cited
    • 2021Ordered Reference Dependent Choice6 cited
    • 2004The Uncertainty Effect: When a risky prospect is valued less than its worst possible outcome4 cited
    • 2022Chance theory: A separation of riskless and risky utility2 cited
    • 2007UNCERTAIN EQUIVALENCE METHOD FOR CONTINUOUS ONE-DIMENSIONAL UTILITY ELICITATION1 cited
    • 2006Empirical Tests of Intransitivity Predicted by Models of Risky Choice1 cited
    • 2009Empirical justification of the uncertain equivalence method0 cited
    • 2016Economic Analysis with Systematically Biased Agents0 cited
    • 2018Labour supply with reference-dependent preferences0 cited