The Sure-Thing Principle and the Comonotonic Sure-Thing Principle: An Axiomatic Analysis
| Authors |
|
|---|---|
| Publication date | 1996 |
| Journal | Journal of mathematical economics |
| Volume | Issue number | 25 |
| Pages (from-to) | 213-227 |
| Organisations |
|
| Abstract | This paper compares classical expected utility with the more general rank-dependent utility models. It shows that the difference between the sure-thing principle for preferences of expected utility and its comonotonic generalization in rank-dependent utility provides the exact demarcation between expected utility and rank-dependent models. |
| Document type | Article |
| Published at |
https://doi.org/10.1016/0304-4068(95)00721-0
(Final published version)
|
| Permalink to this page | |