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Induced Preferences, Dynamic Consistency and Dutch Books

✍ Scribed by David Kelsey; Frank Milne

Book ID: 108559021
Publisher: John Wiley and Sons
Year: 1997
Tongue: English
Weight: 185 KB
Volume: 64
Category: Article
ISSN: 0013-0427
DOI: 10.1111/1468-0335.00091

No coin nor oath required. For personal study only.

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Three reasons for why people may evaluate utility in a rank-dependent fashion have been suggested: (a) rank-dependent weighting is a function of perceptual biases and thus not prescriptively defensible; (b) weights are (re)distributed by motivational processes that reflect stable personality charact