Testing choquet expected utility

Arbeitspapier

Many theories have been developed to model decision behavior under ambiguity. In this paper we empirically investigate theories which are based on non-additive probabilities, i.e. Choquet expected utility (CEU) theories. We first replicated Ellsberg-paradox behavior. Then we elicited the individual non-additive probabilities, the so called capacities. Those capacities did not have all properties theoretically required. Finally we found that CEU is not really superior to EU in predicting the participants' decisions.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Manuskripte aus den Instituten für Betriebswirtschaftslehre der Universität Kiel ; No. 285

Classification and Topics

• Classification: Management
• Subject: Ellsberg paradox ; ambiguity ; Choquet expected utility ; non-additive probabilities ; experimental economics

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Mangelsdorff, Lukas ; Weber, Martin
• Event: Veröffentlichung
• (who): Universität Kiel, Institut für Betriebswirtschaftslehre ; ZBW – Leibniz Information Centre for Economics
• (where): Kiel
• (when): 1992

Further information

• Handle: http://hdl.handle.net/10419/161412
• Last update: 10.03.2025, 11:43 AM CET