TY - JOUR

T1 - A revealed preference theory for non-expected utility on "certain × uncertain" consumption pairs

AU - Kamiya, Kazuya

AU - Ichimura, Hidehiko

PY - 1998

Y1 - 1998

N2 - In this paper we consider a two-period decision problem, where the feasible set is the set of "certain × uncertain" consumption pairs. That is, the decision-maker chooses (x, m) in a feasible set, where x is a certain first-period consumption and m is a random second-period consumption, a Borel probability measure on the set of real numbers. The purpose of this paper is to present revealed preference theory for non-expected utility on "certain × uncertain" consumption pairs. We present necessary and sufficient conditions for the data to be consistent with some non-expected utility functions.

AB - In this paper we consider a two-period decision problem, where the feasible set is the set of "certain × uncertain" consumption pairs. That is, the decision-maker chooses (x, m) in a feasible set, where x is a certain first-period consumption and m is a random second-period consumption, a Borel probability measure on the set of real numbers. The purpose of this paper is to present revealed preference theory for non-expected utility on "certain × uncertain" consumption pairs. We present necessary and sufficient conditions for the data to be consistent with some non-expected utility functions.

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U2 - 10.1111/1468-5876.00071

DO - 10.1111/1468-5876.00071

M3 - Article

SN - 1352-4739

VL - 49

SP - 54

EP - 76

JO - Japanese Economic Review

JF - Japanese Economic Review

IS - 1

ER -