Revealed preference analysis of expected utility maximization under prize-probability trade-offs

被引：0

作者：

Cherchye, Laurens ^{[1
]}

Demuynck, Thomas ^{[2
]}

De Rock, Bram ^{[1
,2
]}

Freer, Mikhail ^{[3
]}

机构：

[1] Univ Leuven, Dept Econ, E Sabbelaan 53, B-8500 Kortrijk, Belgium

[2] Univ Libre Bruxelles, ECARES, Ave FD Roosevelt 50,CP 114, B-1050 Brussels, Belgium

[3] Univ Essex, Dept Econ, Wivenhoe Pk, Colchester CO4 3SQ, Essex, England

来源：

JOURNAL OF MATHEMATICAL ECONOMICS | 2022年 / 99卷

基金：

欧洲研究理事会;

关键词：

Expected utility maximization; Prize-probability trade-offs; Revealed preference characterization; Testable implications; IDENTIFICATION; PROVISION; TESTS;

D O I：

10.1016/j.jmateco.2021.102607

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We provide a revealed preference characterization of expected utility maximization in binary lotteries with prize-probability trade-offs. We start by characterizing optimizing behavior when the empirical analyst exactly knows the utility function or the probability function of winning. Next, we consider the situation with both the probability function and the utility function unknown. In this case utility maximization has empirical content when imposing the mild shape restriction that at least one of these functions is log-concave. (C) 2021 Elsevier B.V. All rights reserved.

引用

页数：13

共 11 条

[1] GUBS criterion: Arbitrary trade-offs between cost and probability-to-goal in stochastic planning based on Expected Utility Theory
Crispino, Gabriel Nunes
Freire, Valdinei
Delgado, Karina Valdivia
[J]. ARTIFICIAL INTELLIGENCE, 2023, 316
[2] Optimization of privacy-utility trade-offs under informational self-determination
Asikis, Thomas
Pournaras, Evangelos
[J]. FUTURE GENERATION COMPUTER SYSTEMS-THE INTERNATIONAL JOURNAL OF ESCIENCE, 2020, 109 : 488 - 499
[3] A REVEALED PREFERENCE ANALYSIS OF ASSET PRICING UNDER RECURSIVE UTILITY
EPSTEIN, LG
MELINO, A
[J]. REVIEW OF ECONOMIC STUDIES, 1995, 62 (04): : 597 - 618
[4] A Methodology for Analysis of mm- Wave Transmitter Linearization Trade-offs Under Spectrum Constraints
Hunerli, H. Volkan
Gavell, Marcus
Taghikhani, Parastoo
Fager, Christian
[J]. INTERNATIONAL WORKSHOP ON INTEGRATED NONLINEAR MICROWAVE AND MILLIMETRE-WAVE CIRCUITS (INMMIC), 2018,
[5] Trade-offs between mobility and equity maximization under environmental capacity constraints: A case study of an integrated multi-objective model
Feng, Tao
Timmermans, Harry J. P.
[J]. TRANSPORTATION RESEARCH PART C-EMERGING TECHNOLOGIES, 2014, 43 : 267 - 279
[6] Trade-offs among spatio-temporal management actions for a mixed-stock fishery revealed by Bayesian decision analysis
Whitlock, R. E.
Pakarinen, T.
Palm, S.
Koljonen, M. L.
Ostergren, J.
Dannewitz, J.
[J]. ICES JOURNAL OF MARINE SCIENCE, 2021, 78 (10) : 3625 - 3638
[7] What Cost-Utility Analysis Can Teach Us About Facial Deformity Gambles, Trade-offs, and Willingness to Pay
Brenner, Michael J.
[J]. JAMA FACIAL PLASTIC SURGERY, 2016, 18 (04) : 249 - 250
[8] Patient centered decision making: Use of conjoint analysis to determine risk-benefit trade-offs for preference sensitive treatment choices
Wilson, Leslie
Loucks, Aimee
Bui, Christine
Gipson, Greg
Zhong, Lixian
Schwartzburg, Amy
Crabtree, Elizabeth
Goodin, Douglas
Waubant, Emmanuelle
McCulloch, Charles
[J]. JOURNAL OF THE NEUROLOGICAL SCIENCES, 2014, 344 (1-2) : 80 - 87
[9] Multi-Criteria Decision Analysis to identify dryland ecosystem service trade-offs under different rangeland land uses
Favretto, N.
Stringer, L. C.
Dougill, A. J.
Dallimer, M.
Perkins, J. S.
Reed, M. S.
Atlhopheng, J. R.
Mulale, K.
[J]. ECOSYSTEM SERVICES, 2016, 17 : 142 - 151
[10] Trade-offs and synergistic relationships of ecosystem services under land use change in Xinjiang from 1990 to 2020: A Bayesian network analysis
Liu, Yuan
Yuan, Xiuliang
Li, Jiaxin
Qian, Kaixuan
Yan, Wei
Yang, Xiuyun
Ma, Xiaofei
[J]. SCIENCE OF THE TOTAL ENVIRONMENT, 2023, 858

← 1 2 →