Calibrating the Subjective

Mark Whitmeyer

Papers from arXiv.org

Abstract: I conduct a version of Rabin's (2000) calibration exercise in the subjective expected utility realm. I show that the rejection of some risky bet by a risk-averse agent only implies the rejection of more extreme and less desirable bets and nothing more.

Date: 2024-12
New Economics Papers: this item is included in nep-mic and nep-upt
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