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A "Pseudo-endowment" Effect, and its Implications for Some Recent Nonexpected Utility Models

✍ Scribed by DRAZEN PRELEC

Book ID
124631846
Publisher
Springer
Year
1990
Tongue
English
Weight
989 KB
Volume
3
Category
Article
ISSN
0895-5646

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πŸ“œ SIMILAR VOLUMES

A β€œPseudo-endowment” effect, and its imp
A β€œPseudo-endowment” effect, and its implications for some recent nonexpected utility models
✍ Drazen Prelec πŸ“‚ Article πŸ“… 1990 πŸ› Springer 🌐 English βš– 788 KB

This article describes a modification of the Allais paradox that induces preferences inconsistent with two conditions weaker than the independence axiom, namely quasi-convacity (a special case of which is the bemeenness axiom), and Hypothesis II of Machina (also called fanning-out). These violation