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Comment on “A model of probabilistic choice satisfying first-order stochastic dominance” by Pavlo Blavatskyy

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Loomes, Graham, Rodríguez-Puerta, Inmaculada and Pinto-Prades, Jose-Luis (2014) Comment on “A model of probabilistic choice satisfying first-order stochastic dominance” by Pavlo Blavatskyy. Management Science, 60 (5). pp. 1346-1350. doi:10.1287/mnsc.2013.1810

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Official URL: http://dx.doi.org/10.1287/mnsc.2013.1810

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Abstract

We present examples of existing evidence that lead us to be cautious about claims made in the original paper [Blavatskyy PR (2011) A model of probabilistic choice satisfying first-order stochastic dominance. Management Sci. 57(3):542–548] that the proposed model provides a better fit to experimental data than do existing models. We raise concerns about the accuracy of this and other assertions and about the adequacy of the comparisons made with alternative models in the existing literature.

Item Type: Journal Article
Subjects: H Social Sciences > HD Industries. Land use. Labor
Q Science > QA Mathematics
Divisions: Faculty of Social Sciences > Warwick Business School > Behavioural Science
Faculty of Social Sciences > Warwick Business School
Library of Congress Subject Headings (LCSH): Lotteries -- Mathematical models, Probabilities
Journal or Publication Title: Management Science
Publisher: Institute for Operations Research and the Management Sciences (I N F O R M S)
ISSN: 0025-1909
Official Date: May 2014
Dates:
DateEvent
May 2014Published
18 March 2013Accepted
Date of first compliant deposit: 8 May 2017
Volume: 60
Number: 5
Page Range: pp. 1346-1350
DOI: 10.1287/mnsc.2013.1810
Status: Peer Reviewed
Publication Status: Published
Access rights to Published version: Restricted or Subscription Access
Funder: Economic and Social Research Council (Great Britain) (ESRC), Spain. Ministerio de Economía y Competitividad [Ministry of Economy and Competitiveness] (MINECO), Junta de Andalucía [Board of Andalucía]
Grant number: RES-051-27-0248 (ESRC), ECO2010-22041-C02-01 (MINECO), Project 2009 P09.SEJ.4992 (Junta de Andalucía [Board of Andalucía])

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