The axiomatic basis of anticipated utility: a clarification
| Authors |
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| Publication date | 1994 |
| Journal | Journal of Economic Theory |
| Volume | Issue number | 64 | 2 |
| Pages (from-to) | 486-499 |
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| Abstract | Quiggin (1982) introduced anticipated ("rank-dependent") utility theory into decision making under risk. Questions have been raised about mathematical aspects in Quiggin's analysis. This paper settles these questions and shows that a minor modification of Quiggin's axioms leads to a useful and correct result, with features not found in other recent axiomatizations. |
| Document type | Article |
| Language | English |
| Published at |
https://doi.org/10.1006/jeth.1994.1078
(Final published version)
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