Counterexamples to "Transitive Regret"
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arXiv
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| Format: | Preprint |
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2024
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| _version_ | 1866910507553783808 |
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| author | Chang, Yuan Liu, Shuo Li |
| author_facet | Chang, Yuan Liu, Shuo Li |
| contents | 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. |
| format | Preprint |
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arxiv_https___arxiv_org_abs_2407_00055 |
| institution | arXiv |
| publishDate | 2024 |
| record_format | arxiv |
| spellingShingle | Counterexamples to "Transitive Regret" Chang, Yuan Liu, Shuo Li Theoretical Economics 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. |
| title | Counterexamples to "Transitive Regret" |
| topic | Theoretical Economics |
| url | https://arxiv.org/abs/2407.00055 |