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233026 (E61) Super benefits? Estimates of the retirement incomes that Australian woman will receive from superannuation: Donath S.,The University of Melbourne, Centre for Actuarial Studies, Research paper No. 55, April 1998

Publisher
Elsevier Science
Year
1998
Tongue
English
Weight
84 KB
Volume
23
Category
Article
ISSN
0167-6687

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โœฆ Synopsis

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probabilities cannot be assigned to events. In the absence of probabilities, difficulties arise in the interpretation of likelihoods of events. In this paper the authors introduce a notion of revealed likelihood that is defined entirely in terms of preferences and that does not require the existence of (subjective) probabilities. The proposal is that decision weights rather than capacities are more suitable measures of revealed likelihood in rankdependent expected utility models and prospect theory. Applications of the proposal to the updating of beliefs and to the description of attitudes towards ambiguity are presented.

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๐Ÿ“‚ Article ๐Ÿ“… 1998 ๐Ÿ› Elsevier Science ๐ŸŒ English โš– 84 KB

probabilities cannot be assigned to events. In the absence of probabilities, difficulties arise in the interpretation of likelihoods of events. In this paper the authors introduce a notion of revealed likelihood that is defined entirely in terms of preferences and that does not require the existence