| Titre : | A model of probabilistic choice satisfying first-order stochastic dominance (2011) |
| Auteurs : | Pavlo R. Blavatskyy, Auteur |
| Type de document : | Article : texte imprimé |
| Dans : | Management science (Vol. 57 N° 3, Mars 2011) |
| Article en page(s) : | pp. 542-548 |
| Note générale : | Management |
| Langues : | Anglais |
| Index. décimale : | 658 (Organisation des entreprises. Techniques du commerce) |
| Tags : | Probabilistic choice First-order stochastic dominance Random utility Strong |
| Résumé : | This paper presents a new model of probabilistic binary choice under risk. In this model, a decision maker always satisfies first-order stochastic dominance. If neither lottery stochastically dominates the other alternative, a decision maker chooses in a probabilistic manner. The proposed model is derived from four standard axioms (completeness, weak stochastic transitivity, continuity, and common consequence independence) and two relatively new axioms. The proposed model provides a better fit to experimental data than do existing models. The baseline model can be extended to other domains such as modeling variable consumer demand. |
| DEWEY : | 658 |
| ISSN : | 0025-1909 |
| En ligne : | http://mansci.journal.informs.org/cgi/content/abstract/57/3/542 |
