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14 juin 2024
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- 2407.00055
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Economics - Theoretical EconomicsSujets proches
Economic theory Political economyCiter ce document
Yuan Chang et al., « Counterexamples to "Transitive Regret" », arXiv - économie
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Theorem 1 in Bikhchandani & Segal (2011; Theoretical Economics) suggests that a complete, transitive, monotonic, and continuous preference is regret based if and only if it is expected utility. Their Proposition 1 suggests that transitivity and continuity of a regret-based preference implies an equivalence condition: if random variables $X$ and $Y$ have the same distribution, then $X\sim Y$. We give counterexamples to Proposition 1.