Article ID: | iaor1989278 |
Country: | Switzerland |
Volume: | 19 |
Start Page Number: | 219 |
End Page Number: | 228 |
Publication Date: | May 1989 |
Journal: | Annals of Operations Research |
Authors: | Wakker Peter P. |
It is shown that assumptions about risk aversion, usually studied under the presupposition of expected utility maximization, have a surprising extra merit at a early stage of the measurement work: together with the sure-thing principle, these assumptions imply subjective expected utility maximization for monotonic continuous weak orders.