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Transforming Probabilities without Violating Stochastic Dominance
16 references·16 citing·29 second hopsampled
Transforming Probabilities without Violating Stochastic Dominance (1989)Transforming Probabilities without Violat…Choice Under Uncertainty: Problems Solved and Unsolved (1992)Choice Under Uncertainty: Pro…Foundations of Measurement (1990)Foundations of MeasurementProspect theory: An analysis of decision under risk (1988)Prospect theory: An analysis …On ordered weighted averaging aggregation operators in multicriteria decisionmaking (1988)On ordered weighted averaging…The Dual Theory of Choice under Risk (1987)The Dual Theory of Choice und…Expected utility with purely subjective non-additive probabilities (1987)Expected utility with purely …Choice Under Uncertainty: Problems Solved and Unsolved (1987)Choice Under Uncertainty: Pro…A theory of anticipated utility (1982)A theory of anticipated utili…"Expected Utility" Analysis without the Independence Axiom (1982)"Expected Utility" Analysis w…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…Essays in the Theory of Risk-Bearing. (1972)Essays in the Theory of Risk-…Aspects of the Theory of Risk-Bearing. (1966)Aspects of the Theory of Risk…Risk Aversion in the Small and in the Large (1964)Risk Aversion in the Small an…Handbook of mathematical psychology: I. (1963)Handbook of mathematical psyc…The theory of decision making. (1954)The theory of decision making.A Theoretical Foundation of Ambiguity Measurement: A Reply (2024)A Theoretical Foundation of A…Production under uncertainty and choice under uncertainty in the emergence of generalized expected utility theory (2022)Production under uncertainty …Non-cooperative games with prospect theory players and dominated strategies (2019)Non-cooperative games with pr…Evolutionary stability of prospect theory preferences (2013)Evolutionary stability of pro…Piecewise Continuous Cumulative Prospect Theory and Piecewise Continuous Hedonic Framing (2011)Piecewise Continuous Cumulati…Behavioral econometrics for psychologists (2010)Behavioral econometrics for p…Evolutionary Stability of Prospect Theory Preferences (2009)Evolutionary Stability of Pro…Dynamic Choice Behavior in a Natural Experiment (2006)Dynamic Choice Behavior in a …Local Utility Functions and Local Probability Transformations (2003)Local Utility Functions and L…Risk perception of traffic participants (2002)Risk perception of traffic pa…Decision making with transformed probabilities (2000)Decision making with transfor…Closing the gap between economic theory and behavioral decision research: GENERALIZED EXPECTED UTILITY THEORY: THE RANK-DEPENDENT MODEL, John Quiggin, Boston: Kluwer Academic Publishers, 1993, 208 pp., ISBN 0-7923-9302-3 (1996)Closing the gap between econo…Rank dependent utility for arbitrary consequence spaces (1995)Rank dependent utility for ar…An Explanation and Characterization for the Buying of Lotteries (1994)An Explanation and Characteri…Issues in utility measurement (1992)Issues in utility measurementAdditive Representations of Preferences, A New Foundation of Decision Analysis; The Algebraic Approach (1991)Additive Representations of P…The Utility Analysis of Choices Involving Risk (1948)Le Comportement de l'Homme Rationnel devant le Risque: Critique des Postulats et Axiomes de l'Ecole Americaine (1953)Rational choice and the structure of the environment. (1956)A Protection Motivation Theory of Fear Appeals and Attitude Change1 (1975)From Intentions to Actions: A Theory of Planned Behavior (1985)Theory of games and economic behavior (2019)Substitution, Risk Aversion, and the Temporal Behavior of Consumption and Asset Returns: A Theoretical Framework (1989)Subjective probability and expected utility without additivity (2004)Risk, Ambiguity, and the Savage Axioms (1961)Judgment under Uncertainty: Heuristics and Biases (1975)The Framing of Decisions and the Psychology of Choice (1981)Exploration and Exploitation in Organizational Learning (1991)Explicating dynamic capabilities: the nature and microfoundations of (sustainable) enterprise performance (2007)Simultaneous conjoint measurement: A new type of fundamental measurement (1964)Context theory of classification learning. (1978)Attention, similarity, and the identification-categorization relationship. (1986)Moral Hazard and Observability (1979)The New Institutional Economics: Taking Stock, Looking Ahead (2000)RATIONAL CHOICE AND THE FRAMING OF DECISIONS (1988)Advances in prospect theory: Cumulative representation of uncertainty (1992)Individual differences in reasoning: Implications for the rationality debate? (2000)A 2-tuple fuzzy linguistic representation model for computing with words (2000)Intuitionistic Fuzzy Aggregation Operators (2007)Pythagorean Membership Grades in Multicriteria Decision Making (2013)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
  • 1988On ordered weighted averaging aggregation operators in multicriteria decisionmaking7,301 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
  • 1982A theory of anticipated utility3,136 cited
  • 1954The theory of decision making.2,708 cited
  • 1987The Dual Theory of Choice under Risk2,426 cited
  • 1963Handbook of mathematical psychology: I.1,987 cited
  • 1990Foundations of Measurement1,953 cited
  • 1966Aspects of the Theory of Risk-Bearing.1,888 cited
  • 1982"Expected Utility" Analysis without the Independence Axiom1,518 cited
  • 1992Choice Under Uncertainty: Problems Solved and Unsolved948 cited
  • 1987Choice Under Uncertainty: Problems Solved and Unsolved878 cited
  • 1987Expected utility with purely subjective non-additive probabilities818 cited

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Cited by

  • 2002Risk perception of traffic participants33 cited
  • 1992Issues in utility measurement31 cited
  • 1991Additive Representations of Preferences, A New Foundation of Decision Analysis; The Algebraic Approach27 cited
  • 2006Dynamic Choice Behavior in a Natural Experiment27 cited
  • 1995Rank dependent utility for arbitrary consequence spaces26 cited
  • 2019Non-cooperative games with prospect theory players and dominated strategies22 cited
  • 2013Evolutionary stability of prospect theory preferences13 cited
  • 2010Behavioral econometrics for psychologists8 cited
  • 2024A Theoretical Foundation of Ambiguity Measurement: A Reply7 cited
  • 2009Evolutionary Stability of Prospect Theory Preferences6 cited
  • 1994An Explanation and Characterization for the Buying of Lotteries5 cited
  • 2003Local Utility Functions and Local Probability Transformations3 cited
  • 2022Production under uncertainty and choice under uncertainty in the emergence of generalized expected utility theory2 cited
  • 2011Piecewise Continuous Cumulative Prospect Theory and Piecewise Continuous Hedonic Framing1 cited
  • 2000Decision making with transformed probabilities0 cited
  • 1996Closing the gap between economic theory and behavioral decision research: GENERALIZED EXPECTED UTILITY THEORY: THE RANK-DEPENDENT MODEL, John Quiggin, Boston: Kluwer Academic Publishers, 1993, 208 pp., ISBN 0-7923-9302-30 cited