A Revealed-Preference Implication of Weighted Utility Decisions Under Uncertainty
Authors
Published Date
Publisher
Center for Economic Research, Department of Economics, University of Minnesota
Type
Abstract
Revealed preference of the weighted utility theory of Chew (1983) is investigated in the
same set-up as Green and Osband (1991) for expected utility theory; the structure of
the partition of the state simplex according to the chosen act is examined. It is shown
that the boundary between two partition elements generated by a weighted utility is the
solution set to a quadratic equation. Moreover, except for special "symmetric" pairs of
acts, weighted utilities in a generic set produce revealed preference partitions with non-affine
boundaries, so that they are distinguishable from those of expected utilities which
have affine boundaries according to Green and Osband.
Description
Related to
item.page.replaces
License
Series/Report Number
Discussion Paper
270
270
Funding Information
item.page.isbn
DOI identifier
Previously Published Citation
Park, I., (1993), "A Revealed-Preference Implication of Weighted Utility Decisions Under Uncertainty", Discussion Paper No. 270, Center for Economic Research, Department of Economics, University of Minnesota.
Other identifiers
Suggested Citation
Park, In-Uck. (1993). A Revealed-Preference Implication of Weighted Utility Decisions Under Uncertainty. Retrieved from the University Digital Conservancy, https://hdl.handle.net/11299/55716.
Content distributed via the University Digital Conservancy may be subject to additional license and use restrictions applied by the depositor. By using these files, users agree to the Terms of Use. Materials in the UDC may contain content that is disturbing and/or harmful. For more information, please see our statement on harmful content in digital repositories.