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Nonexpected Utility Theory
16 references·9 citing·19 second hop
Nonexpected Utility Theory (2004)Nonexpected Utility TheoryTheory of games and economic behavior (2019)Theory of games and economic …Choices, Values, and Frames (2013)Choices, Values, and FramesSubjective probability and expected utility without additivity (2004)Subjective probability and ex…Prospect theory: An analysis of decision under risk (1988)Prospect theory: An analysis …The Dual Theory of Choice under Risk (1987)The Dual Theory of Choice und…Regret Theory: An Alternative Theory of Rational Choice Under Uncertainty (1982)Regret Theory: An Alternative…A theory of anticipated utility (1982)A theory of anticipated utili…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…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…The Utility Analysis of Choices Involving Risk (1948)The Utility Analysis of Choic…Theory of Games and Economic Behavior (1946)Theory of Games and Economic …Geometric Dispersion Theory for Decisions Under Risk: Accurate Out-of-Sample Predictions and Four Distinct Behavioral Patterns (2018)Geometric Dispersion Theory f…A birtoklási hatás megnyilvánulásának háttere és következményei. A kilátáselmélet alkalmazása fogyasztási döntésekre (2018)A birtoklási hatás megnyilván…Modeling dependence in health behaviors (2015)Modeling dependence in health…Asymmetry of Risk and Value of Information (2014)Asymmetry of Risk and Value o…Mono-Linearity-Based Axiomatic Approach to Non-Linear Expected Utility (2013)Mono-Linearity-Based Axiomati…Incorporating Knightian uncertainty into real options analysis: Using multiple-priors in the case of rail transit investment (2013)Incorporating Knightian uncer…Expectation Formation in an Evolving Game of Uncertainty: Theory and New Experimental Evidence (2013)Expectation Formation in an E…Evaluating Risk Measures and Capital Allocations Based on Multi-Losses Driven by a Heavy-Tailed Background Risk: The Multivariate Pareto-II Model (2013)Evaluating Risk Measures and …Decision Utility Theory (2012)Decision Utility TheoryJudgment 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)Advances in prospect theory: Cumulative representation of uncertainty (1992)Individual differences in reasoning: Implications for the rationality debate? (2000)Risk as feelings. (2001)Framing: Toward Clarification of a Fractured Paradigm (1993)Subjective well-being: Three decades of progress. (1999)Toward a positive theory of consumer choice (1980)Non-cooperative games (1989)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
  • 1981The Framing of Decisions and the Psychology of Choice17,834 cited
  • 2019Theory of games and economic behavior16,630 cited
  • 1961Risk, Ambiguity, and the Savage Axioms7,892 cited
  • 2013Choices, Values, and Frames5,320 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
  • 1946Theory of Games and Economic Behavior3,280 cited
  • 1982A theory of anticipated utility3,136 cited
  • 1948The Utility Analysis of Choices Involving Risk3,097 cited
  • 1954Exposition of a New Theory on the Measurement of Risk2,787 cited
  • 2004Subjective probability and expected utility without additivity2,510 cited
  • 1987The Dual Theory of Choice under Risk

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Cited by

  • 2013Incorporating Knightian uncertainty into real options analysis: Using multiple-priors in the case of rail transit investment38 cited
  • 2013Evaluating Risk Measures and Capital Allocations Based on Multi-Losses Driven by a Heavy-Tailed Background Risk: The Multivariate Pareto-II Model35 cited
  • 2014Asymmetry of Risk and Value of Information5 cited
  • 2018A birtoklási hatás megnyilvánulásának háttere és következményei. A kilátáselmélet alkalmazása fogyasztási döntésekre2 cited
  • 2013Mono-Linearity-Based Axiomatic Approach to Non-Linear Expected Utility1 cited
  • 2018Geometric Dispersion Theory for Decisions Under Risk: Accurate Out-of-Sample Predictions and Four Distinct Behavioral Patterns1 cited
  • 2015Modeling dependence in health behaviors0 cited
  • 2013Expectation Formation in an Evolving Game of Uncertainty: Theory and New Experimental Evidence0 cited
  • 2012Decision Utility Theory0 cited