An axiomatic foundation for regret theory

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Sugden, R. (1993) An axiomatic foundation for regret theory. Journal of Economic Theory, 60 (1). pp. 159-180. ISSN 0022-0531

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Abstract

This paper, which extends previous work by Fishburn, presents a set of axioms which imply a form of regret theory. In the case of choice from two acts, these axioms are similar to those from which Savage derived expected utility theory, except that the transitivity axiom is dropped. Some of Savage's other axioms are strengthened, and a new definition of "is as probable as" is used. These axioms are generalized to the case of choice from n acts by making preferences between any two acts contingent on the nature of the other acts in the choice problem. Journal of Economic Literature Classification Number: D81.

Item Type:	Article
Faculty \ School:	Faculty of Social Sciences > School of Economics
UEA Research Groups:	Faculty of Social Sciences > Research Groups > Economic Theory Faculty of Social Sciences > Research Centres > Centre for Behavioural and Experimental Social Sciences Faculty of Social Sciences > Research Centres > Centre for Competition Policy Faculty of Social Sciences > Research Groups > Behavioural Economics
Related URLs:	http://www.scopus.com/inward/record.url?...
Depositing User:	Pure Connector
Date Deposited:	19 Nov 2013 16:15
Last Modified:	05 Jul 2023 12:30
URI:	https://ueaeprints.uea.ac.uk/id/eprint/44516
DOI:	10.1006/jeth.1993.1039

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