Disappointment Aversion and Expectiles
Fuente:
arXiv
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| Autores principales: | , , , , |
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| Formato: | Preprint |
| Publicado: |
2025
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| Materias: | |
| Acceso en línea: | |
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| _version_ | 1866915433858203648 |
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| author | Bellini, Fabio Maccheroni, Fabio Mao, Tiantian Wang, Ruodu Wu, Qinyu |
| author_facet | Bellini, Fabio Maccheroni, Fabio Mao, Tiantian Wang, Ruodu Wu, Qinyu |
| contents | This paper recasts Gul (1991)'s theory of disappointment aversion in a Savage framework, with general outcomes, new explicit axioms of disappointment aversion, and novel explicit representations. These permit broader applications of the theory and better understanding of its decision-theoretic foundations. Our results exploit an unexpected connection of Gul's theory and the econometric framework of Newey and Powell (1987) of asymmetric least square estimation. |
| format | Preprint |
| id |
arxiv_https___arxiv_org_abs_2508_05541 |
| institution | arXiv |
| publishDate | 2025 |
| record_format | arxiv |
| spellingShingle | Disappointment Aversion and Expectiles Bellini, Fabio Maccheroni, Fabio Mao, Tiantian Wang, Ruodu Wu, Qinyu Theoretical Economics This paper recasts Gul (1991)'s theory of disappointment aversion in a Savage framework, with general outcomes, new explicit axioms of disappointment aversion, and novel explicit representations. These permit broader applications of the theory and better understanding of its decision-theoretic foundations. Our results exploit an unexpected connection of Gul's theory and the econometric framework of Newey and Powell (1987) of asymmetric least square estimation. |
| title | Disappointment Aversion and Expectiles |
| topic | Theoretical Economics |
| url | https://arxiv.org/abs/2508.05541 |