A Quantitative Measurement of Regret Theory

References

• Abdellaoui M. Parameter-free elicitation of utility and probability weighting functions. Management Sci. (2000) 46(11):1497–1512Link, Google Scholar
• Abdellaoui M., Barrios C., Wakker P. P. Reconciling introspective utility with revealed preference: Experimental arguments based on prospect theory. J. Econometrics (2007a) 138(1):356–378Crossref, Google Scholar
• Abdellaoui M., Bleichrodt H., l'Haridon O. A tractable method to measure utility and loss aversion under prospect theory. J. Risk Uncertainty (2008) 36(3):245–266Crossref, Google Scholar
• Abdellaoui M., Bleichrodt H., Paraschiv C. Measuring loss aversion under prospect theory: A parameter-free approach. Management Sci. (2007b) 53(10):1659–1674Link, Google Scholar
• Abdellaoui M., Vossmann F., Weber M. Choice-based elicitation and decomposition of decision weights for gains and losses under uncertainty. Management Sci. (2005) 51(9):1384–1399Link, Google Scholar
• Barberis N., Xiong W. What drives the disposition effect? An analysis of a long-standing preference-based explanation. J. Finance (2009) 64(2):751–784Crossref, Google Scholar
• Barberis N., Huang M., Thaler R. H. Individual preferences, monetary gambles, and stock market participation: A case for narrow framing. Amer. Econom. Rev. (2006) 96(4):1069–1090Crossref, Google Scholar
• Beattie J., Loomes G. The impact of incentives upon risky choice experiments. J. Risk Uncertainty (1997) 14(2):155–168Crossref, Google Scholar
• Bell D. E. Regret in decision making under uncertainty. Oper. Res. (1982) 30(5):961–981Link, Google Scholar
• Bell D. E. Risk premiums for decision regret. Management Sci. (1983) 29(10):1156–1166Link, Google Scholar
• Birnbaum M., Schmidt U. An experimental investigation of violations of transitivity in choice under uncertainty. J. Risk Uncertainty (2008) 37(1):77–91Crossref, Google Scholar
• Bleichrodt H., Pinto J. L. A parameter-free elicitation of the probability weighting function in medical decision analysis. Management Sci. (2000) 46(11):1485–1496Link, Google Scholar
• Braun M., Muermann A. The impact of regret on the demand for insurance. J. Risk Insurance (2004) 71(4):737–767Crossref, Google Scholar
• Cubitt R., Starmer C., Sugden R. On the validity of the random lottery incentive system. Experiment. Econom. (1998) 1(2):115–131Crossref, Google Scholar
• Di Cagno D., Hey J. D. A direct test of the original version of regret theory. J. Behav. Decision Making (1988) 1(1):43–56Crossref, Google Scholar
• Engelbrecht-Wiggans R., Katok E. Regret and feedback information in first-price sealed-bid auctions. Management Sci. (2008) 54(4):808–819Link, Google Scholar
• Etchart-Vincent N. Is probability weighting sensitive to the magnitude of consequences? An experimental investigation on losses. J. Risk Uncertainty (2004) 28(3):217–235Crossref, Google Scholar
• Feliz-Ozbay E., Ozbay E. Y. Auctions with anticipated regret: Theory and experiment. Amer. Econom. Rev. (2007) 97(4):1407–1418Crossref, Google Scholar
• Fennema H., van Assen M. Measuring the utility of losses by means of the trade-off method. J. Risk Uncertainty (1998) 17(3):277–295Crossref, Google Scholar
• Fishburn P. C. Non-transitive measurable utility. J. Math. Psych. (1982) 26(1):31–67Crossref, Google Scholar
• Gollier C., Salanié B. Individual decisions under risk, risk sharing, and asset prices with regret. (2006) . Working paper, University of Toulouse, Toulouse, FranceGoogle Scholar
• Gonzalez R., Wu G. On the form of the probability weighting function. Cognitive Psych. (1999) 38(1):129–166Crossref, Google Scholar
• Harrison G. W., Rutström E., Cox J. C., Harrison G. W. Risk aversion in the laboratory. Risk Aversion in Experiments. Research in Experimental Economics (2008) 12(Emerald, Bingley, UK) 41–196Crossref, Google Scholar
• Hens T., Vlcek M. Does prospect theory explain the disposition effect? (2006) . Working paper, University of Zurich, ZurichGoogle Scholar
• Humphrey S. J. Regret aversion or event-splitting effects? More evidence under risk and uncertainty. J. Risk Uncertainty (1995) 11(3):263–274Crossref, Google Scholar
• Kahneman D., Tversky A. Prospect theory: An analysis of decision under risk. Econometrica (1979) 47(2):263–291Crossref, Google Scholar
• Krantz D. H., Luce R. D., Suppes P., Tversky A.Foundations of Measurement (1971) 1(Academic Press, New York) Google Scholar
• Larrick R. P. Motivational factors in decision theories: The role of self-protection. Psych. Bull. (1993) 113(3):440–450Crossref, Google Scholar
• Loomes G., Sugden R. Regret theory: An alternative theory of rational choice. Econom. J. (1982) 92(368):805–824Google Scholar
• Loomes G., Sugden R. Some implications of a more general form of regret theory. J. Econom. Theory (1987) 41(2):270–287Crossref, Google Scholar
• Loomes G., Starmer C., Sugden R. Observing violations of transitivity by experimental methods. Econometrica (1991) 59(2):425–439Crossref, Google Scholar
• Muermann A., Volkman J. M. Regret, pride, and the disposition effect. (2007) . Working paper, University of Pennsylvania, PhiladelphiaGoogle Scholar
• Muermann A., Mitchell O. S., Volkman J. M. Regret, portfolio choice, and guarantees in defined contribution schemes. Insurance, Math., Econom. (2006) 39(2):219–229Crossref, Google Scholar
• Perakis G., Roels G. Regret in the newsvendor model with partial information. Oper. Res. (2008) 56(1):188–203Link, Google Scholar
• Schunk D., Betsch C. Explaining heterogeneity in utility functions by individual differences in decision modes. J. Econom. Psych. (2006) 27(3):386–401Crossref, Google Scholar
• Starmer C. Developments in non-expected utility theory: The hunt for a descriptive theory of choice under risk. J. Econom. Literature (2000) 38(2):332–382Crossref, Google Scholar
• Starmer C., Sugden R. Does the random-lottery incentive system elicit true preferences? An experimental investigation. Amer. Econom. Rev. (1991) 81(4):971–978Google Scholar
• Starmer C., Sugden R. Testing for juxtaposition and event-splitting effects. J. Risk Uncertainty (1993) 6(3):235–254Crossref, Google Scholar
• Stott H. P. Cumulative prospect theory's functional menagerie. J. Risk Uncertainty (2006) 32(2):101–130Crossref, Google Scholar
• Tversky A., Kahneman D. Advances in prospect theory: Cumulative representation of uncertainty. J. Risk Uncertainty (1992) 5(4):297–323Crossref, Google Scholar
• Tversky A., Sattath S., Slovic P. Contingent weighting in judgment and choice. Psych. Rev. (1988) 95(3):371–384Crossref, Google Scholar
• Wakker P., Deneffe D. Eliciting von Neumann-Morgenstern utilities when probabilities are distorted or unknown. Management Sci. (1996) 42(8):1131–1150Link, Google Scholar
• Zeelenberg M. Anticipated regret, expected feedback and behavioral decision making. J. Behav. Decision Making (1999) 12(2):93–106Crossref, Google Scholar
• Zeelenberg M., Beattie J., van der Pligt J., de Vries N. K. Consequences of regret aversion: Effects of expected feedback on risky decision making. Organ. Behav. Human Decision Processes (1996) 65(2):148–158Crossref, Google Scholar