메뉴 건너뛰기




Volumn 52, Issue 2, 2013, Pages 709-728

Anticipated regret as an explanation of uncertainty aversion

Author keywords

Ambiguity aversion; Hindsight bias; Information aversion; Reference dependence; Regret; Uncertainty aversion

Indexed keywords


EID: 84875522622     PISSN: 09382259     EISSN: 14320479     Source Type: Journal    
DOI: 10.1007/s00199-011-0661-3     Document Type: Article
Times cited : (21)

References (48)
  • 1
    • 36949024463 scopus 로고    scopus 로고
    • Ambiguity without state space
    • Ahn D. S.: Ambiguity without state space. Rev Econ Stud 75, 3-28 (2008).
    • (2008) Rev Econ Stud , vol.75 , pp. 3-28
    • Ahn, D.S.1
  • 2
    • 0001157520 scopus 로고
    • A definition of subjective probability
    • Anscombe F. J., Aumann R. J.: A definition of subjective probability. Ann Math Stat 34, 199-205 (1963).
    • (1963) Ann Math Stat , vol.34 , pp. 199-205
    • Anscombe, F.J.1    Aumann, R.J.2
  • 3
    • 67650973684 scopus 로고    scopus 로고
    • A theory of reference-dependent behavior
    • Apesteguia J., Ballester M. A.: A theory of reference-dependent behavior. Econ Theory 40, 427-455 (2009).
    • (2009) Econ Theory , vol.40 , pp. 427-455
    • Apesteguia, J.1    Ballester, M.A.2
  • 4
    • 84866756627 scopus 로고    scopus 로고
    • Contests with rank-order spillovers
    • doi: 10. 1007/s00199-009-0489-2
    • Baye, M. R., Kovenock, D., de Vries, C. G.: Contests with rank-order spillovers. Econ Theory (2009). doi: 10. 1007/s00199-009-0489-2.
    • (2009) Econ Theory
    • Baye, M.R.1    Kovenock, D.2    de Vries, C.G.3
  • 5
    • 0020183162 scopus 로고
    • Regret in decision making under uncertainty
    • Bell D. E.: Regret in decision making under uncertainty. Oper Res 30, 961-981 (1982).
    • (1982) Oper Res , vol.30 , pp. 961-981
    • Bell, D.E.1
  • 6
    • 0020831347 scopus 로고
    • Risk premiums for decision regret
    • Bell D. E.: Risk premiums for decision regret. Manag Sci 29, 1156-1166 (1983).
    • (1983) Manag Sci , vol.29 , pp. 1156-1166
    • Bell, D.E.1
  • 7
    • 78650771841 scopus 로고    scopus 로고
    • Loss aversion
    • Blavatskyy P. R.: Loss aversion. Econ Theory 46, 127-148 (2011).
    • (2011) Econ Theory , vol.46 , pp. 127-148
    • Blavatskyy, P.R.1
  • 8
    • 84980185221 scopus 로고
    • Prediction and postdiction preferences in guessing
    • Brun W., Teigen K. H.: Prediction and postdiction preferences in guessing. J Behav Decis Mak 3, 17-28 (1990).
    • (1990) J Behav Decis Mak , vol.3 , pp. 17-28
    • Brun, W.1    Teigen, K.H.2
  • 11
    • 80053243937 scopus 로고    scopus 로고
    • Attitudes toward uncertainty and randomization: an experimental study
    • doi: 10. 1007/s00199-011-0649-z
    • Dominiak, A., Schnedler, W.: Attitudes toward uncertainty and randomization: an experimental study. Econ Theory (2011). doi: 10. 1007/s00199-011-0649-z.
    • (2011) Econ Theory
    • Dominiak, A.1    Schnedler, W.2
  • 12
    • 80053282661 scopus 로고    scopus 로고
    • Are the treasures of game theory ambiguous?
    • doi: 10. 1007/s00199-011-0636-4
    • Eichberger, J., Kelsey, D.: Are the treasures of game theory ambiguous? Econ Theory (2011). doi: 10. 1007/s00199-011-0636-4.
    • (2011) Econ Theory
    • Eichberger, J.1    Kelsey, D.2
  • 13
    • 84957363402 scopus 로고
    • Risk, ambiguity and the savage axioms
    • Ellsberg D.: Risk, ambiguity and the savage axioms. Q J Econ 75, 643-669 (1961).
    • (1961) Q J Econ , vol.75 , pp. 643-669
    • Ellsberg, D.1
  • 14
    • 34547146970 scopus 로고    scopus 로고
    • Regret in auctions: theory and evidence
    • Engelbrecht-Wiggans R., Katok E.: Regret in auctions: theory and evidence. Econ Theory 33, 81-101 (2007).
    • (2007) Econ Theory , vol.33 , pp. 81-101
    • Engelbrecht-Wiggans, R.1    Katok, E.2
  • 15
    • 64049108676 scopus 로고    scopus 로고
    • A theory of subjective compound lotteries
    • Ergin H., Gul F.: A theory of subjective compound lotteries. J Econ Theory 144, 899-929 (2009).
    • (2009) J Econ Theory , vol.144 , pp. 899-929
    • Ergin, H.1    Gul, F.2
  • 16
    • 33747927436 scopus 로고
    • Hindsight ≠ foresight: the effect of outcome knowledge on judgment
    • Fischhoff B.: Hindsight ≠ foresight: the effect of outcome knowledge on judgment. J Exp Psychol 1, 288-299 (1975).
    • (1975) J Exp Psychol , vol.1 , pp. 288-299
    • Fischhoff, B.1
  • 17
    • 84988112522 scopus 로고
    • Ambiguity and rationality
    • Frisch D., Baron J.: Ambiguity and rationality. J Behav Decis Mak 1, 149-157 (1988).
    • (1988) J Behav Decis Mak , vol.1 , pp. 149-157
    • Frisch, D.1    Baron, J.2
  • 19
    • 4444277242 scopus 로고    scopus 로고
    • Differentiating ambiguity and ambiguity attitude
    • Ghirardato P., Maccheroni F., Marincacci M.: Differentiating ambiguity and ambiguity attitude. J Econ Theory 118, 133-173 (2004).
    • (2004) J Econ Theory , vol.118 , pp. 133-173
    • Ghirardato, P.1    Maccheroni, F.2    Marincacci, M.3
  • 20
    • 0001266334 scopus 로고
    • Maxmin expected utility with a non-unique prior
    • Gilboa I., Schmeidler D.: Maxmin expected utility with a non-unique prior. J Math Econ 18, 141-153 (1989).
    • (1989) J Math Econ , vol.18 , pp. 141-153
    • Gilboa, I.1    Schmeidler, D.2
  • 21
    • 0028503867 scopus 로고
    • The temporal pattern to the experience of regret
    • Gilovich T., Medvec V. H.: The temporal pattern to the experience of regret. J Pers Soc Psychol 67, 357-365 (1994).
    • (1994) J Pers Soc Psychol , vol.67 , pp. 357-365
    • Gilovich, T.1    Medvec, V.H.2
  • 22
    • 16344375445 scopus 로고    scopus 로고
    • A Bayesian approach to uncertainty aversion
    • Halevy Y., Feltkamp V.: A Bayesian approach to uncertainty aversion. Rev Econ Stud 72, 449-466 (2005).
    • (2005) Rev Econ Stud , vol.72 , pp. 449-466
    • Halevy, Y.1    Feltkamp, V.2
  • 23
    • 33847413625 scopus 로고    scopus 로고
    • Ellsberg revisited: an experimental study
    • Halevy Y.: Ellsberg revisited: an experimental study. Econometrica 75, 503-536 (2007).
    • (2007) Econometrica , vol.75 , pp. 503-536
    • Halevy, Y.1
  • 24
    • 38849143094 scopus 로고    scopus 로고
    • Regret aversion and opportunity dependence
    • Hayashi T.: Regret aversion and opportunity dependence. J Econ Theory 139, 242-268 (2008).
    • (2008) J Econ Theory , vol.139 , pp. 242-268
    • Hayashi, T.1
  • 25
    • 0000050520 scopus 로고
    • Norm theory: comparing reality to its alternatives
    • Kahneman D., Miller D. T.: Norm theory: comparing reality to its alternatives. Psychol Rev 93, 136-153 (1986).
    • (1986) Psychol Rev , vol.93 , pp. 136-153
    • Kahneman, D.1    Miller, D.T.2
  • 26
    • 0000125532 scopus 로고
    • Prospect theory: an analysis of decision under risk
    • Kahneman D., Tversky A.: Prospect theory: an analysis of decision under risk. Econometrica 47, 263-291 (1979).
    • (1979) Econometrica , vol.47 , pp. 263-291
    • Kahneman, D.1    Tversky, A.2
  • 27
    • 33644553294 scopus 로고    scopus 로고
    • A smooth model of decision making under ambiguity
    • Klibanoff P., Marinacci M., Mukerji S.: A smooth model of decision making under ambiguity. Econometrica 73, 1849-1892 (2005).
    • (2005) Econometrica , vol.73 , pp. 1849-1892
    • Klibanoff, P.1    Marinacci, M.2    Mukerji, S.3
  • 28
    • 77954537909 scopus 로고    scopus 로고
    • Utility from anticipation and personal equilibrium
    • Köszegi B.: Utility from anticipation and personal equilibrium. Econ Theory 44, 415-444 (2010).
    • (2010) Econ Theory , vol.44 , pp. 415-444
    • Köszegi, B.1
  • 29
    • 33646349613 scopus 로고    scopus 로고
    • A model of reference-dependent preferences
    • Köszegi B., Rabin M.: A model of reference-dependent preferences. Q J Econ 121, 1133-1165 (2006).
    • (2006) Q J Econ , vol.121 , pp. 1133-1165
    • Köszegi, B.1    Rabin, M.2
  • 30
    • 84875495841 scopus 로고    scopus 로고
    • Regret in dynamic decision problems
    • Krähmer, D., Stone, R.: Regret in dynamic decision problems. Mimeo (2008).
    • (2008) Mimeo
    • Krähmer, D.1    Stone, R.2
  • 31
    • 0000923828 scopus 로고
    • Regret theory: an alternative approach to rational choice under uncertainty
    • Loomes G., Sugden R.: Regret theory: an alternative approach to rational choice under uncertainty. Econ J 92, 805-824 (1982).
    • (1982) Econ J , vol.92 , pp. 805-824
    • Loomes, G.1    Sugden, R.2
  • 32
    • 0034329674 scopus 로고    scopus 로고
    • Choice and the relative pleasure of consequences
    • Mellers B.: Choice and the relative pleasure of consequences. Psychol Bull 126, 910-924 (2000).
    • (2000) Psychol Bull , vol.126 , pp. 910-924
    • Mellers, B.1
  • 33
    • 0035540670 scopus 로고    scopus 로고
    • Anticipated emotions as guides to choice
    • Mellers B., McGraw A. P.: Anticipated emotions as guides to choice. Curr Dir Psychol Sci 10, 210-214 (2001).
    • (2001) Curr Dir Psychol Sci , vol.10 , pp. 210-214
    • Mellers, B.1    McGraw, A.P.2
  • 35
    • 0000513419 scopus 로고
    • Good news and bad news: representation theorems and applications
    • Milgrom P.: Good news and bad news: representation theorems and applications. Bell J Econ 13, 380-391 (1981).
    • (1981) Bell J Econ , vol.13 , pp. 380-391
    • Milgrom, P.1
  • 36
    • 0002547250 scopus 로고
    • Games against nature
    • In: Thrall, R. R., Coombs, C. H., Davis, R. L. (eds.), New York: Wiley
    • Milnor, J.: Games against nature. In: Thrall, R. R., Coombs, C. H., Davis, R. L. (eds.) Decision Processes, pp. 49-60, New York: Wiley (1954).
    • (1954) Decision Processes , pp. 49-60
    • Milnor, J.1
  • 37
    • 0007382405 scopus 로고    scopus 로고
    • Risk, uncertainty, and hidden information
    • Morris S.: Risk, uncertainty, and hidden information. Theory Decis 42, 235-269 (1997).
    • (1997) Theory Decis , vol.42 , pp. 235-269
    • Morris, S.1
  • 38
    • 33644533822 scopus 로고    scopus 로고
    • Uncertainty aversion with second-order utilities and probabilities
    • Nau R. F.: Uncertainty aversion with second-order utilities and probabilities. Manag Sci 52, 136-145 (2006).
    • (2006) Manag Sci , vol.52 , pp. 136-145
    • Nau, R.F.1
  • 39
    • 80053269940 scopus 로고    scopus 로고
    • Risk, ambiguity, and state-preference theory
    • doi: 10. 1007/s00199-011-0632-8
    • Nau, R. F.: Risk, ambiguity, and state-preference theory. Econ Theory (2011). doi: 10. 1007/s00199-011-0632-8.
    • (2011) Econ Theory
    • Nau, R.F.1
  • 40
    • 23244449688 scopus 로고    scopus 로고
    • Axiomatic reference-dependende in behavior toward others and toward risk
    • Neilson W. S.: Axiomatic reference-dependende in behavior toward others and toward risk. Econ Theory 28, 681-692 (2006).
    • (2006) Econ Theory , vol.28 , pp. 681-692
    • Neilson, W.S.1
  • 41
    • 0002309280 scopus 로고    scopus 로고
    • Psychology and economics
    • Rabin M.: Psychology and economics. J Econ Lit 36, 11-46 (1998).
    • (1998) J Econ Lit , vol.36 , pp. 11-46
    • Rabin, M.1
  • 42
    • 84875522331 scopus 로고    scopus 로고
    • Reluctance to vaccinate: omission bias and ambiguity
    • Sunstein, C. R. (ed.), New York: Cambridge University Press
    • Ritov, I., Baron, J.: Reluctance to vaccinate: omission bias and ambiguity. Sunstein, C. R. (ed.) Behavioral Law and Economics, pp. 168-186, New York: Cambridge University Press (2000).
    • (2000) Behavioral Law and Economics , pp. 168-186
    • Ritov, I.1    Baron, J.2
  • 45
    • 0001333688 scopus 로고
    • Subjective probability and expected utility without additivity
    • Schmeidler D.: Subjective probability and expected utility without additivity. Econometrica 57, 571-587 (1989).
    • (1989) Econometrica , vol.57 , pp. 571-587
    • Schmeidler, D.1
  • 46
    • 0000498415 scopus 로고
    • The Ellsberg paradox and risk aversion: an anticipated utility approach
    • Segal U.: The Ellsberg paradox and risk aversion: an anticipated utility approach. Int Econ Rev 28, 175-202 (1987).
    • (1987) Int Econ Rev , vol.28 , pp. 175-202
    • Segal, U.1
  • 47
    • 0001584949 scopus 로고
    • Two-stage lotteries without the reduction axiom
    • Segal U.: Two-stage lotteries without the reduction axiom. Econometrica 58, 349-377 (1990).
    • (1990) Econometrica , vol.58 , pp. 349-377
    • Segal, U.1
  • 48
    • 22644451051 scopus 로고    scopus 로고
    • Anticipated regret, expected feedback, and behavioral decision making
    • Zeelenberg M.: Anticipated regret, expected feedback, and behavioral decision making. J Behav Decis Mak 12, 93-106 (1999).
    • (1999) J Behav Decis Mak , vol.12 , pp. 93-106
    • Zeelenberg, M.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.