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 -