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Rejecting small gambles under expected utility
16 references·16 citing·31 second hopsampled
Rejecting small gambles under expected utility (2006)Rejecting small gambles under expected ut…The Handbook of Experimental Economics (2020)The Handbook of Experimental …Individual Decision Making (2020)Individual Decision MakingRisk Aversion and Incentive Effects (2002)Risk Aversion and Incentive E…Risk Aversion and Expected-utility Theory: A Calibration Theorem (2000)Risk Aversion and Expected-ut…Choices, Values, and Frames (2000)Choices, Values, and FramesSolutions manual for Microeconomic theory : Mas-Colell, Whinston and Green (1997)Solutions manual for Microeco…Preference Parameters and Behavioral Heterogeneity: An Experimental Approach in the Health and Retirement Study (1997)Preference Parameters and Beh…The Handbook of Experimental Economics (1995)The Handbook of Experimental …Investigating Generalizations of Expected Utility Theory Using Experimental Data (1994)Investigating Generalizations…The equity premium: A puzzle (1985)The equity premium: A puzzle"Expected Utility" Analysis without the Independence Axiom (1982)"Expected Utility" Analysis w…Attitudes Toward Risk: Experimental Measurement in Rural India (1980)Attitudes Toward Risk: Experi…Risk Aversion in the Small and in the Large (1976)Risk Aversion in the Small an…Essays in the Theory of Risk-Bearing. (1972)Essays in the Theory of Risk-…Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small an…The Utility Analysis of Choices Involving Risk (1948)The Utility Analysis of Choic…Small stakes risk aversion in the laboratory: A reconsideration (2017)Small stakes risk aversion in…Range-Dependent Utility (2017)Range-Dependent UtilityProspect Theory Versus Expected Utility Theory: Assumptions, Predictions, Intuition and Modelling of Risk Attitudes (2017)Prospect Theory Versus Expect…What can multiple price lists really tell us about risk preferences? (2016)What can multiple price lists…WHO REALLY WANTS TO BE A MILLIONAIRE? ESTIMATES OF RISK AVERSION FROM GAMESHOW DATA (2013)WHO REALLY WANTS TO BE A MILL…Risk aversion in the large and in the small (2013)Risk aversion in the large an…Competition, Cooperation and Collective Choice (2013)Competition, Cooperation and …A wealth-requirement axiomatization of riskiness (2013)A wealth-requirement axiomati…Is there a plausible theory for decision under risk? A dual calibration critique (2012)Is there a plausible theory f…Comparing Risks by Acceptance and Rejection (2011)Comparing Risks by Acceptance…Is Expected Utility Theory Applicable? A Revealed Preference Test (2010)Is Expected Utility Theory Ap…Risk aversion and expected utility of consumption over time (2009)Risk aversion and expected ut…Decision making under risk in Deal or No Deal (2009)Decision making under risk in…Would a risk-averse newsvendor order less at a higher selling price? (2008)Would a risk-averse newsvendo…Small- and large-stakes risk aversion: Implications of concavity calibration for decision theory (2005)Small- and large-stakes risk …AN EXPERIMENTAL STUDY OF THE POUM HYPOTHESIS (2004)AN EXPERIMENTAL STUDY OF THE …Judgment under Uncertainty: Heuristics and Biases (1975)Prospect Theory: An Analysis of Decision under Risk (1979)Prospect theory: An analysis of decision under risk (1988)Boys will be Boys: Gender, Overconfidence, and Common Stock Investment (2001)INDIVIDUAL RISK ATTITUDES: MEASUREMENT, DETERMINANTS, AND BEHAVIORAL CONSEQUENCES (2011)An Intertemporal Capital Asset Pricing Model (1973)Asset Prices in an Exchange Economy (1978)Time to Build and Aggregate Fluctuations (1982)Noise Trader Risk in Financial Markets (1990)Efficient Capital Markets: II (1991)ARCH modeling in finance (1992)Loss Aversion in Riskless Choice: A Reference-Dependent Model (1991)Cognitive Reflection and Decision Making (2005)Psychology and Economics: Evidence from the Field (2009)Toward a positive theory of consumer choice (1980)Risk as feelings. (2001)Moral Hazard and Observability (1979)The New Institutional Economics: Taking Stock, Looking Ahead (2000)A perspective on judgment and choice: Mapping bounded rationality. (2003)The weirdest people in the world? (2010)Dual-Process Theories of Higher Cognition (2013)Financial Intermediation and Delegated Monitoring (1984)Well-being : the foundations of hedonic psychology (1999)Oxytocin increases trust in humans (2005)Gender Differences in Preferences (2009)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)Are people conditionally cooperative? Evidence from a public goods experiment (2001)A theory of reciprocity (2005)Evolutionary games on graphs (2007)
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References

  • 2002Risk Aversion and Incentive Effects5,973 cited
  • 1985The equity premium: A puzzle5,785 cited
  • 1964Risk Aversion in the Small and in the Large4,964 cited
  • 1976Risk Aversion in the Small and in the Large4,655 cited
  • 1972Essays in the Theory of Risk-Bearing.3,991 cited
  • 1948The Utility Analysis of Choices Involving Risk3,097 cited
  • 2000Choices, Values, and Frames2,952 cited
  • 1997Preference Parameters and Behavioral Heterogeneity: An Experimental Approach in the Health and Retirement Study2,399 cited
  • 1995The Handbook of Experimental Economics2,053 cited
  • 2000Risk Aversion and Expected-utility Theory: A Calibration Theorem1,623 cited
  • 1980Attitudes Toward Risk: Experimental Measurement in Rural India1,620 cited
  • 1982"Expected Utility" Analysis without the Independence Axiom1,518 cited
  • 2020The Handbook of Experimental Economics1,105 cited
  • 1994Investigating Generalizations of Expected Utility Theory Using Experimental Data1,100 cited
  • 2020Individual Decision Making991 cited
  • 1997Solutions manual for Microeconomic theory : Mas-Colell, Whinston and Green

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  • 2008Would a risk-averse newsvendor order less at a higher selling price?117 cited
  • 2013WHO REALLY WANTS TO BE A MILLIONAIRE? ESTIMATES OF RISK AVERSION FROM GAMESHOW DATA72 cited
  • 2009Decision making under risk in Deal or No Deal70 cited
  • 2016What can multiple price lists really tell us about risk preferences?66 cited
  • 2004AN EXPERIMENTAL STUDY OF THE POUM HYPOTHESIS60 cited
  • 2011Comparing Risks by Acceptance and Rejection59 cited
  • 2017Range-Dependent Utility57 cited
  • 2013Competition, Cooperation and Collective Choice41 cited
  • 2005Small- and large-stakes risk aversion: Implications of concavity calibration for decision theory35 cited
  • 2010Is Expected Utility Theory Applicable? A Revealed Preference Test30 cited
  • 2012Is there a plausible theory for decision under risk? A dual calibration critique29 cited
  • 2017Small stakes risk aversion in the laboratory: A reconsideration27 cited
  • 2017Prospect Theory Versus Expected Utility Theory: Assumptions, Predictions, Intuition and Modelling of Risk Attitudes22 cited
  • 2013A wealth-requirement axiomatization of riskiness20 cited
  • 2013Risk aversion in the large and in the small20 cited
  • 2009Risk aversion and expected utility of consumption over time19 cited