Rank-dependent expected utility: Revision history

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20 May 2025

  • curprev 13:3013:30, 20 May 2025 134.100.40.9 talk 3,508 bytes +3,508 →Formal representation: The previous version was incorrect/inconsistent. Now, we start with weighting the best state of the world first, then calculate the weight for the next best state, etc. This is how it's done in the literature: Diecidue, Enrico and Wakker, Peter P., On the Intuition of Rank-Dependent Utility. Journal of Risk and Uncertainty (2001) 23, 281-298, CentER Working Paper No. 74, Available at SSRN: https://ssrn.com/abstract=244668 or http://dx.doi.org/10.2139/ssrn.244668
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