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Calibration results for incomplete preferences
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Safra, Zvi and Segal, Uzi (2020) Calibration results for incomplete preferences. Revue Economique, 71 . pp. 323-330. doi:10.3917/reco.712.0323 ISSN 0035-2764.
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Official URL: https://doi.org/10.3917/reco.712.0323
Abstract
In this work we demonstrate that incomplete expected utility preferences are susceptible to criticism similar to that addressed at their complete analogues: even a modest degree of risk aversion in the small is sufficient to imply extreme and unreasonable degree of risk aversion in the large. Our results thus shed doubt on the usefulness of incomplete expected utility preferences for practical and theoretical purposes.
Item Type: | Journal Article | ||||||
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Divisions: | Faculty of Social Sciences > Warwick Business School | ||||||
Journal or Publication Title: | Revue Economique | ||||||
Publisher: | Presses de Sciences Po | ||||||
ISBN: | 9782724636437 | ||||||
ISSN: | 0035-2764 | ||||||
Official Date: | 28 February 2020 | ||||||
Dates: |
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Volume: | 71 | ||||||
Page Range: | pp. 323-330 | ||||||
DOI: | 10.3917/reco.712.0323 | ||||||
Status: | Peer Reviewed | ||||||
Publication Status: | Published | ||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||
Date of first compliant deposit: | 14 October 2019 | ||||||
Date of first compliant Open Access: | 28 February 2021 | ||||||
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