A reflection on the reflection example

IF 2.1 4区经济学 Q2 ECONOMICS

Economics Letters Pub Date : 2025-02-01 DOI:10.1016/j.econlet.2024.112120

Pavlo Blavatskyy

引用次数: 0

Abstract

Machina (2009) reflection example challenges Choquet expected utility, cumulative prospect theory, and many other well-known models of ambiguity aversion. This paper shows that the reflection example can be accommodated within a modified Choquet expected utility with one capacity for relatively ambiguous events and a different capacity—for relatively unambiguous events.

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来源期刊

Economics Letters ECONOMICS-

CiteScore

3.20

自引率

5.00%

发文量

348

审稿时长

30 days

期刊介绍： Many economists today are concerned by the proliferation of journals and the concomitant labyrinth of research to be conquered in order to reach the specific information they require. To combat this tendency, Economics Letters has been conceived and designed outside the realm of the traditional economics journal. As a Letters Journal, it consists of concise communications (letters) that provide a means of rapid and efficient dissemination of new results, models and methods in all fields of economic research.