메뉴 건너뛰기




Volumn 20, Issue 2, 1998, Pages 139-162

Incomplete beliefs and nonmarket valuation

Author keywords

Consumer sovereignty; Subjective probability; Utility maximization; Valuation of environmental goods

Indexed keywords

INDUSTRIAL ECONOMICS; PROBABILITY; SOCIAL ASPECTS;

EID: 0032102554     PISSN: 09287655     EISSN: None     Source Type: Journal    
DOI: 10.1016/s0928-7655(97)00033-x     Document Type: Article
Times cited : (22)

References (53)
  • 1
    • 0000438997 scopus 로고
    • Uncertainty, evolution, and economic theory
    • Alchian, A.A., 1950. Uncertainty, evolution, and economic theory. J. Polit. Econ. 63, 211-221.
    • (1950) J. Polit. Econ. , vol.63 , pp. 211-221
    • Alchian, A.A.1
  • 2
    • 84971897180 scopus 로고
    • The ethical limitations of the market
    • Anderson, E., 1990. The ethical limitations of the market. Econ. Philos. 6, 179-205.
    • (1990) Econ. Philos. , vol.6 , pp. 179-205
    • Anderson, E.1
  • 3
    • 0001436273 scopus 로고
    • Existence of an equilibrium for a competitive economy
    • Arrow, K.J., Debreu, G., 1954. Existence of an equilibrium for a competitive economy. Econometrica 22, 265-290.
    • (1954) Econometrica , vol.22 , pp. 265-290
    • Arrow, K.J.1    Debreu, G.2
  • 4
    • 0002811393 scopus 로고
    • Irrational behavior and economic theory
    • Becker, G.S., 1962. Irrational behavior and economic theory. J. Polit. Econ. 70, 1-13.
    • (1962) J. Polit. Econ. , vol.70 , pp. 1-13
    • Becker, G.S.1
  • 5
    • 84960592384 scopus 로고
    • The division of labor, coordination costs, and knowledge
    • Becker, G.S., Murphy, K.M., 1992. The division of labor, coordination costs, and knowledge. Q. J. Econ. 107, 1137-1160.
    • (1992) Q. J. Econ. , vol.107 , pp. 1137-1160
    • Becker, G.S.1    Murphy, K.M.2
  • 7
    • 0000339461 scopus 로고
    • Do biases in probability judgement matter in markets? Experimental evidence
    • Camerer, C.F., 1987. Do biases in probability judgement matter in markets? Experimental evidence. Am. Econ. Rev. 77, 981-997.
    • (1987) Am. Econ. Rev. , vol.77 , pp. 981-997
    • Camerer, C.F.1
  • 8
    • 85005224285 scopus 로고
    • Incentives and behavior in English, Dutch and sealed-bid auctions
    • Coppinger, V.M., Smith, V.L., Titus, J., 1980. Incentives and behavior in English, Dutch and sealed-bid auctions. Econ. Inquiry 18, 1-22.
    • (1980) Econ. Inquiry , vol.18 , pp. 1-22
    • Coppinger, V.M.1    Smith, V.L.2    Titus, J.3
  • 9
    • 0000603774 scopus 로고
    • The subsidence of preference reversals in simplified and marketlike experimental settings
    • Chu, Y.-P., Chu, R.-L., 1990. The subsidence of preference reversals in simplified and marketlike experimental settings. Am. Econ. Rev. 80, 902-911.
    • (1990) Am. Econ. Rev. , vol.80 , pp. 902-911
    • Chu, Y.-P.1    Chu, R.-L.2
  • 10
    • 0011610163 scopus 로고
    • Psychological structure and social structure in economic models
    • Coleman, J.S., 1986. Psychological structure and social structure in economic models. J. Business 59, 365-369.
    • (1986) J. Business , vol.59 , pp. 365-369
    • Coleman, J.S.1
  • 11
    • 0347859857 scopus 로고
    • Contractual choice
    • Crocker, T.D., 1973. Contractual choice. Nat. Res. J. 13, 561-577.
    • (1973) Nat. Res. J. , vol.13 , pp. 561-577
    • Crocker, T.D.1
  • 13
    • 0011557131 scopus 로고
    • On cognitive illusions and their implications
    • Arkes, H.R., Hammond, K.R. (Eds.), Cambridge Univ. Press, New York
    • Edwards, W., von Winterfeldt, D., 1986. On cognitive illusions and their implications. In: Arkes, H.R., Hammond, K.R. (Eds.), Judgement and Decision Making. Cambridge Univ. Press, New York, pp. 124-151.
    • (1986) Judgement and Decision Making , pp. 124-151
    • Edwards, W.1    Von Winterfeldt, D.2
  • 14
    • 0003238397 scopus 로고
    • The Measurement of Environmental and Resource Values: Theory and Methods
    • Washington, DC
    • Freeman III, A.M., 1993. The Measurement of Environmental and Resource Values: Theory and Methods. Resources for the Future, Washington, DC.
    • (1993) Resources for the Future
    • Freeman A.M. III1
  • 15
    • 0001471648 scopus 로고
    • Evolutionary games in economics
    • Friedman, D., 1991. Evolutionary games in economics. Econometrica 59, 637-666.
    • (1991) Econometrica , vol.59 , pp. 637-666
    • Friedman, D.1
  • 16
    • 0018687618 scopus 로고
    • Energy analysis and economic valuation
    • Georgescu-Roegan, N., 1979. Energy analysis and economic valuation. South. Econ. J. 45, 1023-1058.
    • (1979) South. Econ. J. , vol.45 , pp. 1023-1058
    • Georgescu-Roegan, N.1
  • 17
    • 72949083817 scopus 로고
    • Allocative efficiency of markets with zero intelligence traders: Markets as a partial substitute for individual rationality
    • Gode, D.K., Sunder, S., 1993. Allocative efficiency of markets with zero intelligence traders: Markets as a partial substitute for individual rationality. J. Polit. Econ. 101, 119-137.
    • (1993) J. Polit. Econ. , vol.101 , pp. 119-137
    • Gode, D.K.1    Sunder, S.2
  • 18
    • 0000841187 scopus 로고
    • Bayes rule as a descriptive model: The representativeness heuristic
    • Grether, D.M., 1980. Bayes rule as a descriptive model: The representativeness heuristic. Q. J. Econ. 95, 537-557.
    • (1980) Q. J. Econ. , vol.95 , pp. 537-557
    • Grether, D.M.1
  • 19
    • 0006775897 scopus 로고
    • Individual behavior and market performance
    • Grether, D.M., 1994. Individual behavior and market performance. Am. J. Agric. Econ. 76, 1079-1083.
    • (1994) Am. J. Agric. Econ. , vol.76 , pp. 1079-1083
    • Grether, D.M.1
  • 20
    • 84982438110 scopus 로고
    • Economic theory of choice and the preference reversal phenomenon
    • Grether, D.M., Plott, C.R., 1979. Economic theory of choice and the preference reversal phenomenon. Am. Econ. Rev. 69, 623-638.
    • (1979) Am. Econ. Rev. , vol.69 , pp. 623-638
    • Grether, D.M.1    Plott, C.R.2
  • 21
    • 0001188867 scopus 로고
    • On the impossibility of informationally efficient markets
    • Grossman, S., Stiglitz, J.E., 1980. On the impossibility of informationally efficient markets. Am. Econ. Rev. 70, 303-408.
    • (1980) Am. Econ. Rev. , vol.70 , pp. 303-408
    • Grossman, S.1    Stiglitz, J.E.2
  • 22
    • 0001870183 scopus 로고
    • Valuing the environment through contingent valuation
    • Hanemann, W.M., 1994. Valuing the environment through contingent valuation. J. Econ. Perspect. 8, 45-64.
    • (1994) J. Econ. Perspect. , vol.8 , pp. 45-64
    • Hanemann, W.M.1
  • 23
    • 0001050514 scopus 로고
    • The origins of predictable behavior
    • Heiner, R.A., 1983. The origins of predictable behavior. Am. Econ. Rev. 73, 560-595.
    • (1983) Am. Econ. Rev. , vol.73 , pp. 560-595
    • Heiner, R.A.1
  • 24
    • 0002291177 scopus 로고
    • Uncertainty, Signal-Detection Experiments, and Modelling Behavior
    • Langois, R.N. (Ed.), Cambridge Univ. Press, New York
    • Heiner, R.A., 1986. Uncertainty, Signal-Detection Experiments, and Modelling Behavior. In: Langois, R.N. (Ed.), Economics as Process: Essays in the New Institutional Economics. Cambridge Univ. Press, New York, pp. 111-129.
    • (1986) Economics as Process: Essays in the New Institutional Economics , pp. 111-129
    • Heiner, R.A.1
  • 27
    • 0001530693 scopus 로고
    • Separating probability elicitation from utilities
    • Kadane, J.B., Winkler, R.L., 1988. Separating probability elicitation from utilities. J. Am. Stat. Assoc. 83, 357-363.
    • (1988) J. Am. Stat. Assoc. , vol.83 , pp. 357-363
    • Kadane, J.B.1    Winkler, R.L.2
  • 28
    • 0001411880 scopus 로고
    • Information impact and allocation rules in actions with affiliated private values: A laboratory study
    • Kagel, J.H., Harstad, R.M., Levin, D., 1987. Information impact and allocation rules in actions with affiliated private values: A laboratory study. Econometrica 55, 1275-1304.
    • (1987) Econometrica , vol.55 , pp. 1275-1304
    • Kagel, J.H.1    Harstad, R.M.2    Levin, D.3
  • 30
    • 0001201174 scopus 로고
    • Whom or what does the representative individual represent
    • Kirman, A.P., 1992. Whom or what does the representative individual represent. J. Econ. Perspect. 6, 117-136.
    • (1992) J. Econ. Perspect. , vol.6 , pp. 117-136
    • Kirman, A.P.1
  • 32
    • 0001413906 scopus 로고
    • Rational behavior, uncertain prospects, and measurable utility
    • Marschak, J., 1950. Rational behavior, uncertain prospects, and measurable utility. Econometrica 18, 111-141.
    • (1950) Econometrica , vol.18 , pp. 111-141
    • Marschak, J.1
  • 34
    • 0029511539 scopus 로고
    • Decision making when choices are complex: A test of Heiner's hypothesis
    • Mazzotta, M.J., Opaluch, J.J., 1995. Decision making when choices are complex: A test of Heiner's hypothesis. Land Econ. 71, 500-515.
    • (1995) Land Econ. , vol.71 , pp. 500-515
    • Mazzotta, M.J.1    Opaluch, J.J.2
  • 35
    • 21844488049 scopus 로고
    • Coherent decision analysis with inseparable probabilities and utilities
    • Nau, R.F., 1995. Coherent decision analysis with inseparable probabilities and utilities. J. Risk Uncertainty 10, 71-91.
    • (1995) J. Risk Uncertainty , vol.10 , pp. 71-91
    • Nau, R.F.1
  • 36
    • 0000032136 scopus 로고
    • Arbitrage, rationality, and equilibrium
    • Nau, R.F., McCardle, K.F., 1991. Arbitrage, rationality, and equilibrium. Theory Decision 31, 199-240.
    • (1991) Theory Decision , vol.31 , pp. 199-240
    • Nau, R.F.1    McCardle, K.F.2
  • 37
    • 0002015546 scopus 로고    scopus 로고
    • Rational individual behavior in markets and social choice processes
    • St. Martin Press, Macmillan, New York
    • Plott, C., 1996. Rational individual behavior in markets and social choice processes. The Rational Foundations of Economic Behavior. St. Martin Press, Macmillan, New York.
    • (1996) The Rational Foundations of Economic Behavior
    • Plott, C.1
  • 38
    • 84977371412 scopus 로고
    • The relevance of quasi rationality in competitive markets
    • Russell, T., Thaler, R., 1985. The relevance of quasi rationality in competitive markets. Am. Econ. Rev. 75, 1071-1082.
    • (1985) Am. Econ. Rev. , vol.75 , pp. 1071-1082
    • Russell, T.1    Thaler, R.2
  • 40
    • 84963090940 scopus 로고
    • A note on welfare propositions in economics
    • Scitovsky, T., 1941. A note on welfare propositions in economics. Rev. Econ. Stud. 9, 77-88.
    • (1941) Rev. Econ. Stud. , vol.9 , pp. 77-88
    • Scitovsky, T.1
  • 41
    • 0031100843 scopus 로고    scopus 로고
    • Self-interest and equity in a bargaining tournament with nonlinear payoffs
    • Shogren, J.F., 1997. Self-interest and equity in a bargaining tournament with nonlinear payoffs. J. Econ. Behav. Org. 32, 383-394.
    • (1997) J. Econ. Behav. Org. , vol.32 , pp. 383-394
    • Shogren, J.F.1
  • 42
    • 38149145841 scopus 로고
    • Rational risk valuation given sequential reduction opportunities
    • Shogren, J.F., Crocker, T.D., 1994. Rational risk valuation given sequential reduction opportunities. Econ. Lett. 44, 241-248.
    • (1994) Econ. Lett. , vol.44 , pp. 241-248
    • Shogren, J.F.1    Crocker, T.D.2
  • 43
    • 0000482695 scopus 로고
    • Resolving differences in willingness to pay and willingness to accept
    • Shogren, J.F., Shin, S.Y., Hayes, D.J., Kliebenstein, J.B., 1994. Resolving differences in willingness to pay and willingness to accept. Am. Econ. Rev. 84, 255-270.
    • (1994) Am. Econ. Rev. , vol.84 , pp. 255-270
    • Shogren, J.F.1    Shin, S.Y.2    Hayes, D.J.3    Kliebenstein, J.B.4
  • 44
    • 0015728810 scopus 로고
    • The structure of ill-structured problems
    • Simon, H.A., 1973. The structure of ill-structured problems. Artificial Intelligence 4, 181-201.
    • (1973) Artificial Intelligence , vol.4 , pp. 181-201
    • Simon, H.A.1
  • 45
    • 0003095061 scopus 로고
    • Consistency in statistical inference and decision
    • Smith, C.A.B., 1961. Consistency in statistical inference and decision. J. R. Statistical Soc., Ser. B 23, 1-25.
    • (1961) J. R. Statistical Soc., Ser. B , vol.23 , pp. 1-25
    • Smith, C.A.B.1
  • 46
    • 0001521143 scopus 로고
    • An experimental study of competitive market behavior
    • Smith, V.L., 1962. An experimental study of competitive market behavior. J. Polit. Econ. 70, 111-137.
    • (1962) J. Polit. Econ. , vol.70 , pp. 111-137
    • Smith, V.L.1
  • 47
    • 84934454637 scopus 로고
    • Rational choice: The contrast between economics and psychology
    • Smith, V.L., 1991. Rational choice: The contrast between economics and psychology. J. Polit. Econ. 99, 877-897.
    • (1991) J. Polit. Econ. , vol.99 , pp. 877-897
    • Smith, V.L.1
  • 48
    • 0000235095 scopus 로고
    • Valuing risky projects: Option pricing theory and decision analysis
    • Smith, J.E., Nau, R.F., 1995. Valuing risky projects: Option pricing theory and decision analysis. Manage. Sci. 41, 795-816.
    • (1995) Manage. Sci. , vol.41 , pp. 795-816
    • Smith, J.E.1    Nau, R.F.2
  • 49
    • 0028864661 scopus 로고
    • Preferences, information, and biodiversity preservation
    • Spash, C.L., Hanley, N., 1995. Preferences, information, and biodiversity preservation. Ecol. Econ. 12, 191-208.
    • (1995) Ecol. Econ. , vol.12 , pp. 191-208
    • Spash, C.L.1    Hanley, N.2
  • 50
    • 0000714123 scopus 로고
    • Empirical approaches to the problem of aggregation over individuals
    • Stokes, T.M., 1993. Empirical approaches to the problem of aggregation over individuals. J. Econ. Lit. 31, 1827-1874.
    • (1993) J. Econ. Lit. , vol.31 , pp. 1827-1874
    • Stokes, T.M.1
  • 51
    • 84963071606 scopus 로고
    • Myopia and inconsistency in dynamic utility maximization
    • Strotz, R., 1956. Myopia and inconsistency in dynamic utility maximization. Rev. Econ. Stud. 23, 165-180.
    • (1956) Rev. Econ. Stud. , vol.23 , pp. 165-180
    • Strotz, R.1
  • 53
    • 0346998770 scopus 로고
    • Efficient trading
    • Feiwel, G.R. (Ed.), State Univ. of New York, Albany
    • Wilson, R., 1987. Efficient trading. In: Feiwel, G.R. (Ed.), Issues in Contemporary Microeconomics and Welfare. State Univ. of New York, Albany, pp. 169-208.
    • (1987) Issues in Contemporary Microeconomics and Welfare , pp. 169-208
    • Wilson, R.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.