메뉴 건너뛰기




Volumn 55, Issue 5, 2009, Pages 863-873

Additive utility in prospect theory

Author keywords

Additive utility; Decision weighting; Loss aversion; Prospect theory

Indexed keywords

DECISION MAKERS; DECISION UNDER UNCERTAINTY; DECISION WEIGHTING; EMPIRICAL LITERATURE; EXPECTED UTILITY; LOSS AVERSION; MULTI-ATTRIBUTE UTILITY; PROSPECT THEORY; REFERENCE POINTS;

EID: 67649961830     PISSN: 00251909     EISSN: 15265501     Source Type: Journal    
DOI: 10.1287/mnsc.1080.0978     Document Type: Article
Times cited : (107)

References (45)
  • 1
    • 0000341006 scopus 로고    scopus 로고
    • Parameter-free elicitation of utilities and probability weighting functions
    • Abdellaoui, M. 2000. Parameter-free elicitation of utilities and probability weighting functions. Management Sci. 46 1497-1512.
    • (2000) Management Sci , vol.46 , pp. 1497-1512
    • Abdellaoui, M.1
  • 2
    • 33947363727 scopus 로고    scopus 로고
    • Reconciling introspective utility with revealed preference: Experimental arguments based on prospect theory
    • Abdellaoui, M., C. Barrios, P. P. Wakker. 2007. Reconciling introspective utility with revealed preference: Experimental arguments based on prospect theory. J. Econometrics 138 356-378.
    • (2007) J. Econometrics , vol.138 , pp. 356-378
    • Abdellaoui, M.1    Barrios, C.2    Wakker, P.P.3
  • 3
    • 44649164961 scopus 로고    scopus 로고
    • A tractable method to measure utility and loss aversion under prospect theory
    • Abdellaoui, M., H. Bleichrodt, O. l'Haridon. 2008. A tractable method to measure utility and loss aversion under prospect theory. J. Risk Uncertainty 36 245-266.
    • (2008) J. Risk Uncertainty , vol.36 , pp. 245-266
    • Abdellaoui, M.1    Bleichrodt, H.2    l'Haridon, O.3
  • 4
    • 38549139136 scopus 로고    scopus 로고
    • Measuring loss aversion under prospect theory: A parameter-free approach
    • Abdellaoui, M., H. Bleichrodt, C. Paraschiv. 2007. Measuring loss aversion under prospect theory: A parameter-free approach. Management Sci. 53 1659-1674.
    • (2007) Management Sci , vol.53 , pp. 1659-1674
    • Abdellaoui, M.1    Bleichrodt, H.2    Paraschiv, C.3
  • 5
    • 25844486659 scopus 로고    scopus 로고
    • Choice-based elicitation and decomposition of decision weights for gains and losses under uncertainty
    • Abdellaoui, M., F. Vossmann, M. Weber. 2005. Choice-based elicitation and decomposition of decision weights for gains and losses under uncertainty. Management Sci. 51 1384-1399.
    • (2005) Management Sci , vol.51 , pp. 1384-1399
    • Abdellaoui, M.1    Vossmann, F.2    Weber, M.3
  • 7
    • 43449124990 scopus 로고    scopus 로고
    • New paradoxes of risky decision making
    • Birnbaum, M. H. 2008. New paradoxes of risky decision making. Psych. Rev. 115 463-501.
    • (2008) Psych. Rev , vol.115 , pp. 463-501
    • Birnbaum, M.H.1
  • 8
    • 0037962821 scopus 로고    scopus 로고
    • A characterization of qualityadjusted life-years under cumulative prospect theory
    • Bleichrodt, H., J. Miyamoto. 2003. A characterization of qualityadjusted life-years under cumulative prospect theory. Math. Oper. Res. 28 181-193.
    • (2003) Math. Oper. Res , vol.28 , pp. 181-193
    • Bleichrodt, H.1    Miyamoto, J.2
  • 9
    • 0000341005 scopus 로고    scopus 로고
    • A parameter-free elicitation of the probability weighting function in medical decision analysis
    • Bleichrodt, H., J. L. Pinto. 2000. A parameter-free elicitation of the probability weighting function in medical decision analysis. Management Sci. 46 1485-1496.
    • (2000) Management Sci , vol.46 , pp. 1485-1496
    • Bleichrodt, H.1    Pinto, J.L.2
  • 10
    • 0036310926 scopus 로고    scopus 로고
    • Loss aversion and scale compatibility in two-attribute trade-offs
    • Bleichrodt, H., J. L. Pinto. 2002. Loss aversion and scale compatibility in two-attribute trade-offs. J. Math. Psych. 46 315-337.
    • (2002) J. Math. Psych , vol.46 , pp. 315-337
    • Bleichrodt, H.1    Pinto, J.L.2
  • 12
    • 84994975755 scopus 로고
    • Decomposition of multivariate utility functions in non-additive utility theory
    • Dyckerhoff, R. 1994. Decomposition of multivariate utility functions in non-additive utility theory. J. Multi-Criteria Decision Anal. 3 41-58.
    • (1994) J. Multi-Criteria Decision Anal , vol.3 , pp. 41-58
    • Dyckerhoff, R.1
  • 13
    • 0032202104 scopus 로고    scopus 로고
    • A multiattribute utility analysis of alternatives for the disposition of surplus weapons-grade plutonium
    • Dyer, J. S., T. Edmunds, J. C. Butler, J. Jia. 1998. A multiattribute utility analysis of alternatives for the disposition of surplus weapons-grade plutonium. Oper. Res. 46 749-762.
    • (1998) Oper. Res , vol.46 , pp. 749-762
    • Dyer, J.S.1    Edmunds, T.2    Butler, J.C.3    Jia, J.4
  • 14
    • 3543005398 scopus 로고    scopus 로고
    • Is probability weighting sensitive to the magnitude of consequences? An experimental investigation on losses
    • Etchart-Vincent, N. 2004. Is probability weighting sensitive to the magnitude of consequences? An experimental investigation on losses. J. Risk Uncertainty 28 217-235.
    • (2004) J. Risk Uncertainty , vol.28 , pp. 217-235
    • Etchart-Vincent, N.1
  • 15
    • 0016555949 scopus 로고
    • A fractional hypercube decomposition theorem for multiattribute utility functions
    • Farquhar, P. H. 1975. A fractional hypercube decomposition theorem for multiattribute utility functions. Oper. Res. 23 941-967.
    • (1975) Oper. Res , vol.23 , pp. 941-967
    • Farquhar, P.H.1
  • 16
    • 0008588889 scopus 로고
    • Risk preferences for gains and losses in multiple objective decision making
    • Fischer, G. W., M. S. Kamlet, S. E. Fienberg, D. Schkade. 1986. Risk preferences for gains and losses in multiple objective decision making. Management Sci. 32 1065-1086.
    • (1986) Management Sci , vol.32 , pp. 1065-1086
    • Fischer, G.W.1    Kamlet, M.S.2    Fienberg, S.E.3    Schkade, D.4
  • 17
    • 0002957576 scopus 로고
    • Independence in utility theory with whole product sets
    • Fishburn, P. C. 1965. Independence in utility theory with whole product sets. Oper. Res. 18 28-45.
    • (1965) Oper. Res , vol.18 , pp. 28-45
    • Fishburn, P.C.1
  • 18
    • 0021519368 scopus 로고
    • Multiattribute nonlinear utility theory
    • Fishburn, P. C. 1984. Multiattribute nonlinear utility theory. Management Sci. 30 1301-1310.
    • (1984) Management Sci , vol.30 , pp. 1301-1310
    • Fishburn, P.C.1
  • 19
    • 0032114892 scopus 로고    scopus 로고
    • A belief-based account of decision under uncertainty
    • Fox, C. R., A. Tversky. 1998. A belief-based account of decision under uncertainty. Management Sci. 44 879-895.
    • (1998) Management Sci , vol.44 , pp. 879-895
    • Fox, C.R.1    Tversky, A.2
  • 20
    • 0000125532 scopus 로고
    • Prospect theory: An analysis of decision under risk
    • Kahneman, D., A. Tversky. 1979. Prospect theory: An analysis of decision under risk. Econometrica 47 263-291.
    • (1979) Econometrica , vol.47 , pp. 263-291
    • Kahneman, D.1    Tversky, A.2
  • 23
    • 0035707575 scopus 로고    scopus 로고
    • What determines the shape of the probability weighting function under uncertainty?
    • Kilka, M., M. Weber. 2001. What determines the shape of the probability weighting function under uncertainty? Management Sci. 47 1712-1726.
    • (2001) Management Sci , vol.47 , pp. 1712-1726
    • Kilka, M.1    Weber, M.2
  • 24
    • 0141517283 scopus 로고    scopus 로고
    • Preference foundations for nonexpected utility: A generalized and simplified technique
    • Köbberling, V., P. P. Wakker. 2003. Preference foundations for nonexpected utility: A generalized and simplified technique. Math. Oper. Res. 28 395-423.
    • (2003) Math. Oper. Res , vol.28 , pp. 395-423
    • Köbberling, V.1    Wakker, P.P.2
  • 26
    • 24344470493 scopus 로고    scopus 로고
    • Independence properties vis-à-vis several utility representations
    • Marley, A. A. J., D. R. Luce. 2005. Independence properties vis-à-vis several utility representations. Theory Decision 58 77-143.
    • (2005) Theory Decision , vol.58 , pp. 77-143
    • Marley, A.A.J.1    Luce, D.R.2
  • 27
    • 0000374755 scopus 로고
    • Generic utility theory: Measurement foundations and applications in multiattribute utility theory
    • Miyamoto, J. M. 1988. Generic utility theory: Measurement foundations and applications in multiattribute utility theory. J. Math. Psych. 32 357-404.
    • (1988) J. Math. Psych , vol.32 , pp. 357-404
    • Miyamoto, J.M.1
  • 28
    • 0030092366 scopus 로고    scopus 로고
    • Multiattribute utility theory without expected utility foundations
    • Miyamoto, J. M., P. P. Wakker. 1996. Multiattribute utility theory without expected utility foundations. Oper. Res. 44 313-326.
    • (1996) Oper. Res , vol.44 , pp. 313-326
    • Miyamoto, J.M.1    Wakker, P.P.2
  • 29
    • 0021520671 scopus 로고
    • Multiattribute risky choice behavior: The editing of complex prospects
    • Payne, J. W., D. J. Laughhunn, R. Crum. 1984. Multiattribute risky choice behavior: The editing of complex prospects. Management Sci. 30 1350-1361.
    • (1984) Management Sci , vol.30 , pp. 1350-1361
    • Payne, J.W.1    Laughhunn, D.J.2    Crum, R.3
  • 30
    • 0001750296 scopus 로고    scopus 로고
    • The probability weighting function
    • Prelec, D. 1998. The probability weighting function. Econometrica 66 497-527.
    • (1998) Econometrica , vol.66 , pp. 497-527
    • Prelec, D.1
  • 31
    • 0035349099 scopus 로고    scopus 로고
    • On the affective psychology of risk
    • Money, kisses, and electric shocks
    • Rottenstreich, Y., C. K. Hsee. 2001. Money, kisses, and electric shocks: On the affective psychology of risk. Psych. Sci. 12 185-190.
    • (2001) Psych. Sci , vol.12 , pp. 185-190
    • Rottenstreich, Y.1    Hsee, C.K.2
  • 32
    • 0041438109 scopus 로고    scopus 로고
    • Dynamic choice and nonexpected utility
    • Sarin, R. K., P. P. Wakker. 1998. Dynamic choice and nonexpected utility. J. Risk Uncertainty 17 87-119.
    • (1998) J. Risk Uncertainty , vol.17 , pp. 87-119
    • Sarin, R.K.1    Wakker, P.P.2
  • 33
    • 0037497060 scopus 로고    scopus 로고
    • Reference dependence in cumulative prospect theory
    • Schmidt, U. 2003. Reference dependence in cumulative prospect theory. J. Math. Psych. 47 122-131.
    • (2003) J. Math. Psych , vol.47 , pp. 122-131
    • Schmidt, U.1
  • 34
    • 33646503223 scopus 로고    scopus 로고
    • Explaining heterogeneity in utility functions by individual differences in decision modes
    • Schunk, D., C. Betsch. 2006. Explaining heterogeneity in utility functions by individual differences in decision modes. J. Econom. Psych. 27 386-401.
    • (2006) J. Econom. Psych , vol.27 , pp. 386-401
    • Schunk, D.1    Betsch, C.2
  • 35
    • 25844487228 scopus 로고    scopus 로고
    • Your money or your life: A prescriptive model for health, safety, and consumption decisions
    • Smith, J. E., R. L. Keeney. 2005. Your money or your life: A prescriptive model for health, safety, and consumption decisions. Management Sci. 51 1309-1325.
    • (2005) Management Sci , vol.51 , pp. 1309-1325
    • Smith, J.E.1    Keeney, R.L.2
  • 36
    • 2942596077 scopus 로고    scopus 로고
    • Decision analysis in Management Science
    • Smith, J. E., D. von Winterfeldt. 2004. Decision analysis in Management Science. Management Sci. 50 561-574.
    • (2004) Management Sci , vol.50 , pp. 561-574
    • Smith, J.E.1    von Winterfeldt, D.2
  • 37
    • 11944257940 scopus 로고
    • Weighing risk and uncertainty
    • Tversky, A., C. Fox. 1995. Weighing risk and uncertainty. Psych. Rev. 102 269-283.
    • (1995) Psych. Rev , vol.102 , pp. 269-283
    • Tversky, A.1    Fox, C.2
  • 38
    • 0001076162 scopus 로고
    • Loss aversion in riskless choice: A reference-dependent model
    • Tversky, A., D. Kahneman. 1991. Loss aversion in riskless choice: A reference-dependent model. Quart. J. Econom. 56 1039-1061.
    • (1991) Quart. J. Econom , vol.56 , pp. 1039-1061
    • Tversky, A.1    Kahneman, D.2
  • 39
    • 31744450082 scopus 로고
    • Advances in prospect theory: Cumulative representation of uncertainty
    • Tversky, A., D. Kahneman. 1992. Advances in prospect theory: Cumulative representation of uncertainty. J. Risk Uncertainty 5 297-323.
    • (1992) J. Risk Uncertainty , vol.5 , pp. 297-323
    • Tversky, A.1    Kahneman, D.2
  • 40
    • 0000602190 scopus 로고
    • Unbounded utility for Savage's "Foundation of Statistics, " and other models
    • Wakker, P. P. 1993. Unbounded utility for Savage's "Foundation of Statistics, " and other models. Math. Oper. Res. 18 446-485.
    • (1993) Math. Oper. Res , vol.18 , pp. 446-485
    • Wakker, P.P.1
  • 41
    • 0001070381 scopus 로고    scopus 로고
    • Eliciting von Neumann-Morgenstern utilities when probabilities are distorted or unknown
    • Wakker, P. P., D. Deneffe. 1996. Eliciting von Neumann-Morgenstern utilities when probabilities are distorted or unknown. Management Sci. 42 1131-1150.
    • (1996) Management Sci , vol.42 , pp. 1131-1150
    • Wakker, P.P.1    Deneffe, D.2
  • 42
    • 0000056964 scopus 로고
    • An axiomatization of cumulative prospect theory
    • Wakker, P. P., A. Tversky. 1993. An axiomatization of cumulative prospect theory. J. Risk Uncertainty 7 147-176.
    • (1993) J. Risk Uncertainty , vol.7 , pp. 147-176
    • Wakker, P.P.1    Tversky, A.2
  • 43
    • 0036303028 scopus 로고    scopus 로고
    • A simple preference-foundation of cumulative prospect theory with power utility
    • Wakker, P. P., H. Zank. 2002. A simple preference-foundation of cumulative prospect theory with power utility. Eur. Econom. Rev. 46 1253-1271.
    • (2002) Eur. Econom. Rev , vol.46 , pp. 1253-1271
    • Wakker, P.P.1    Zank, H.2
  • 44
    • 0032630986 scopus 로고    scopus 로고
    • Nonlinear decision weights in choice under uncertainty
    • Wu, G., R. Gonzalez. 1999. Nonlinear decision weights in choice under uncertainty. Management Sci. 45 74-85.
    • (1999) Management Sci , vol.45 , pp. 74-85
    • Wu, G.1    Gonzalez, R.2
  • 45
    • 0035261809 scopus 로고    scopus 로고
    • Cumulative prospect theory for parametric and multiattribute utilities
    • Zank, H. 2001. Cumulative prospect theory for parametric and multiattribute utilities. Math. Oper. Res. 26 67-81.
    • (2001) Math. Oper. Res , vol.26 , pp. 67-81
    • Zank, H.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.