演講者簡介 : Dr. David Dillenberger received his Ph.D. in Economics from Princeton University in 2008. He is currently a Professor of Economics at the University of Pennsylvania. His research interests are Decision Theory and Microeconomic Theory
演講摘要 : We introduce a behavioral notion of risk aversion that is domain-specific and goes beyond what can be captured by deterministic utility. We say that an agent is more pure risk averse in one domain than another if, holding fixed the utility of prizes across domains, he is more averse to risk in the former. We propose a model that extends expected utility just enough to accommodate such domain-specific risk attitudes. Domains are subjective and can be identified from choice data. We provide an axiomatic characterization of the model and relate it to source-based models under ambiguity.
