Testing models of decision under risk (notice n° 546308)
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| fixed length control field | 01584cam a2200253 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250121114025.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Charpin, Ariane |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Testing models of decision under risk |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2018.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 69 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | One of the most robust findings in the literature using data on horseraces bets is that odds associated to horses reflect their chances of winning very well, with the exception that favorites are underbet while outsiders are overbet. Expected utility theory and behavioral theories of decision under risk compete to explain this finding. This paper seeks to discriminate between the two classes of models by testing which is the most suited to explaining the behavior of bettors observed in the data. Using a unique dataset of bets on horseraces in France, I find that behavioral theories of decision under risk better fit my data than expected utility. This result shows that behavioral theories provide a better representation of choice behavior than expected utility. Classification JEL : D81, L83. |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | decision making |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | representative bettor |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | rank-dependent utility |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | risk-aversion |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | cumulative prospect theory |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | probability weighting function |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | expected utility |
| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
| Topical term or geographic name as entry element | favorite-longshot bias |
| 786 0# - DATA SOURCE ENTRY | |
| Note | Revue économique | 69 | 5 | 2018-09-06 | p. 779-803 | 0035-2764 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-revue-economique-2018-5-page-779?lang=en&redirect-ssocas=7080">https://shs.cairn.info/journal-revue-economique-2018-5-page-779?lang=en&redirect-ssocas=7080</a> |
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