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Source CiteSeerX
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Subject Domain (in DDC) Computer science, information & general works ♦ Data processing & computer science
Subject Keyword Transitive Regret ♦ Statistically Independent Lottery ♦ Transitive Regret-based Behavior ♦ Consistent Preference ♦ Consistency Property ♦ Anticipated Utility ♦ Decision Maker ♦ Independent Lottery ♦ Choice Set ♦ Betweenness Preference
Abstract Preferences may arise from regret, i.e., from comparisons with alternatives forgone by the decision maker. We show that when the choice set consists of pairwise statistically independent lotteries, transitive regret-based behavior is consistent with betweenness preferences and with a family of preferences that is characterized by a consistency property. Examples of consistent preferences include CARA, CRRA, and anticipated utility.
Educational Role Student ♦ Teacher
Age Range above 22 year
Educational Use Research
Education Level UG and PG ♦ Career/Technical Study
Publisher Date 2012-01-01