Comment on “A Model of Probabilistic Choice Satisfying First-Order Stochastic Dominance” by Pavlo Blavatskyy

Graham Loomes (), Inmaculada Rodríguez-Puerta () and Jose-Luis Pinto-Prades
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Inmaculada Rodríguez-Puerta: Department of Economics, Universidad Pablo de Olavide, 41013 Seville, Spain

Management Science, 2014, vol. 60, issue 5, 1346-1350

Abstract: We present examples of existing evidence that lead us to be cautious about claims made in the original paper [Blavatskyy PR (2011) A model of probabilistic choice satisfying first-order stochastic dominance. Management Sci. 57(3):542--548] that the proposed model provides a better fit to experimental data than do existing models. We raise concerns about the accuracy of this and other assertions and about the adequacy of the comparisons made with alternative models in the existing literature. This paper was accepted by Rakesh Sarin, decision analysis .

Keywords: decision analysis; risk; economics; microeconomic behavior; utility; probabilistic choice functions (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:inm:ormnsc:v:60:y:2014:i:5:p:1346-1350

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