Two-Moments-Decision Models and Utility-Representable Preferences

Israel Finkelshtain and Ziv Bar-Shira ()

No 232802, Working Papers from Hebrew University of Jerusalem, Center for Agricultural Economic Research

Abstract: If a decision problem satisfies Meyer's location-scale condition, then any utility-representable preferences are also representable by a mean standard deviation utility function. The properties of this function are inferred from common assumptions concerning the individual's risk preferences, without relying on the expected utility model or any of its substitutes.

Keywords: Research; Methods/; Statistical; Methods (search for similar items in EconPapers)
Pages: 21
Date: 1997
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Two-moments decision models and utility-representable preferences (1999)
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Persistent link: https://EconPapers.repec.org/RePEc:ags:huaewp:232802

DOI: 10.22004/ag.econ.232802

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