Some implications of a more general form of regret theory

Loomes, G. and Sugden, R. (1987) Some implications of a more general form of regret theory. Journal of Economic Theory, 41 (2). pp. 270-287. ISSN 0022-0531

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Abstract

Regret theory entails the possibility of non-transitive pairwise choices. It therefore raises questions about how individuals choose from sets of more than two actions, especially when there exists a subset of pairs of actions over which preferences cycle. A generalization of regret theory is suggested and is compared and contrasted with Fishburn's generalization of SSB utility theory. It is also shown that under this generalization an individual with non-transitive pairwise preferences with not be caught in a never-ending cycle and is not vulnerable to being "money-pumped" into bankruptcy.

Item Type: Article
Faculty \ School: Faculty of Social Sciences > School of Economics
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Depositing User: Pure Connector
Date Deposited: 19 Nov 2013 16:15
Last Modified: 06 Nov 2018 15:40
URI: https://ueaeprints.uea.ac.uk/id/eprint/44515
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