Back to the St. Petersburg paradox?

被引：36

作者：

Blavatskyy, PR ^{[1
]}

机构：

[1] Univ Zurich, Inst Empir Res Econ, CH-8006 Zurich, Switzerland

来源：

MANAGEMENT SCIENCE | 2005年 / 51卷 / 04期

关键词：

expected utility theory; cumulative prospect theory; St. Petersburg paradox; power utility; probability weighting;

D O I：

10.1287/mnsc.1040.0352

中图分类号：

C93 [管理学];

学科分类号：

12 ; 1201 ; 1202 ; 120202 ;

摘要：

The conventional parameterizations of cumulative prospect theory do not explain the St. Petersburg paradox. To do so, the power coefficient of an individual's utility function must be lower than the power coefficient of an individual's probability weighting function.

引用

页码：677 / 678

页数：2

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