Monotone Additive Statistics

IF 6.6 1区经济学 Q1 ECONOMICS

Econometrica Pub Date : 2024-07-30 DOI:10.3982/ECTA19967

Xiaosheng Mu, Luciano Pomatto, Philipp Strack, Omer Tamuz

引用次数: 0

Abstract

The expectation is an example of a descriptive statistic that is monotone with respect to stochastic dominance, and additive for sums of independent random variables. We provide a complete characterization of such statistics, and explore a number of applications to models of individual and group decision-making. These include a representation of stationary monotone time preferences, extending the work of Fishburn and Rubinstein (1982) to time lotteries. This extension offers a new perspective on risk attitudes toward time, as well as on the aggregation of multiple discount factors. We also offer a novel class of non-expected utility preferences over gambles which satisfy invariance to background risk as well as betweenness, but are versatile enough to capture mixed risk attitudes.

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单调加法统计

期望值是描述性统计的一个例子，它在随机支配性方面是单调的，对于独立随机变量之和是可加的。我们提供了这种统计量的完整表征，并探讨了它在个人和群体决策模型中的一些应用。其中包括静态单调时间偏好的表示，将 Fishburn 和 Rubinstein（1982 年）的工作扩展到时间抽签。这一扩展为时间风险态度以及多种贴现因子的聚合提供了新的视角。我们还提出了一类新的赌博非预期效用偏好，该偏好满足背景风险和间性的不变性，但其多样性足以捕捉混合风险态度。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Econometrica 社会科学-数学跨学科应用

CiteScore

11.00

自引率

3.30%

发文量

审稿时长

6-12 weeks

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