Dynamic consistency and reference points

被引：6
|
作者：
Segal, U
机构：
[1] Department of Economics, University of Western Ontario, London
来源：
JOURNAL OF ECONOMIC THEORY | 1997年 / 72卷 / 01期
关键词：
D O I：
10.1006/jeth.1996.2204
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This note provides a positive answer to the following question. Is it possible to define a set of preference relations, one for each node of a decision tree, such that these preferences satisfy the reduction of compound lotteries axiom and dynamic consistency, and yet do not converge to expected utility? It is argued that updated preferences necessarily have one affine indifference curve but that other indifference curves are unrestricted. A connection is drawn to modelling ''reference points.'' (C) 1997 Academic Press.
引用
收藏
页码：208 / 219
页数：12
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