Note---Testing Regret
Paul Anand
Management Science, 1985, vol. 31, issue 1, 114-116
Abstract:
Bell's recent paper (Bell, D. E. 1983. Risk premiums for decision regret. Management Sci. 29 1156--1166.) in this journal provides useful foundations for the regret approach to decision theory. This work is all the more important because regret, that is, the pain of having chosen incorrectly, is one of the few radical departures from the conceptual framework of the ubiquitous expected utility model and its variants. Despite providing many of the parametric accoutrements deemed necessary for the acceptance of a model he has not, I believe, proposed a test which is the most appropriate to establish the validity of regret.
Date: 1985
References: Add references at CitEc
Citations: View citations in EconPapers (1)
Downloads: (external link)
http://dx.doi.org/10.1287/mnsc.31.1.114 (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:31:y:1985:i:1:p:114-116
Access Statistics for this article
More articles in Management Science from INFORMS Contact information at EDIRC.
Bibliographic data for series maintained by Chris Asher ().