Aspirational Preferences and Their Representation by Risk Measures
Published Online:15 Jun 2012https://doi.org/10.1287/mnsc.1120.1537
References
- . Effective utility functions induced by organizational target-based incentives. Managerial Decision Econom. (2008) 30(4):235–251Crossref, Google Scholar
- . Le comportement de l’homme rationnel devant le risque: Critique des postulats et axiomes de l’école Americaine. Econometrica (1953) 21(4):503–546Crossref, Google Scholar
- . A definition of subjective probability. Ann. Math. Statist. (1963) 34(1):199–205Crossref, Google Scholar
- . Coherent measures of risk. Math. Finance (1999) 9(3):203–228Crossref, Google Scholar
- . An economic index of riskiness. J. Political Econom. (2008) 116(5):810–836Crossref, Google Scholar
- . Ambiguity models and the machina paradoxes. Amer. Econom. Rev. (2010) 101(4):1547–1560Crossref, Google Scholar
- . Multiattribute preference analysis with performance targets. Oper. Res. (2004) 52(6):823–835Link, Google Scholar
- . Decision analysis using targets instead of utility functions. Decisions Econom. Finance (2000) 23(1):53–74Crossref, Google Scholar
- . Subjective expected utility without preferences. J. Math. Psych. (2011) 55(6):457–468Crossref, Google Scholar
- . Satisficing measures for analysis of risky positions. Management Sci. (2009) 55(1):71–84Link, Google Scholar
- . Benchmarking real–valued acts. Games Econom. Behav. (2006) 57(2):236–253Crossref, Google Scholar
- . Uncertainty averse preferences. J. Econom. Theory (2011) 146(4):1275–1330Crossref, Google Scholar
- . The impact of a target on newsvendor decisions. (2012) . Working paper, NUS Business School, National University of Singapore, SingaporeGoogle Scholar
- . Tight bounds for some risk measures, with applications to robust portfolio selection. Oper. Res. (2011) 59(4):847–865Link, Google Scholar
- . New measures of performance evaluation. Rev. Financial Stud. (2009) 22(7):2571–2606Crossref, Google Scholar
- . Mutual funds and bubbles: The surprising role of contractual incentives. Rev. Financial Stud. (2008) 21(1):51–99Crossref, Google Scholar
- . Aspiration level, probability of success and failure, and expected utility. Internat. Econom. Rev. (2008) 49(2):683–700Crossref, Google Scholar
- . Risk preferences and their robust representations. (2009) . Working paper, Humboldt University, BerlinGoogle Scholar
- . Risk, ambiguity and the savage axioms. Quart. J. Econom. (1961) 75(4):643–669Crossref, Google Scholar
- . Mean-risk analysis with risk associated with below-target returns. Amer. Econom. Rev. (1977) 67(2):116–126Google Scholar
- . Entropic risk measures: Coherence vs. convexity, model ambiguity, and robust large deviations. Stochastics Dynam. (2011) 11(2–3):1–19Google Scholar
- . Convex measures of risk and trading constraints. Finance Stochastics (2002) 6(4):429–447Crossref, Google Scholar
- . Stochastic Finance: An Introduction in Discrete Time (2004) (Walter de Gruyter, Berlin) Crossref, Google Scholar
- . An operational measure of riskiness. J. Political Econom. (2009) 117(5):785–814Crossref, Google Scholar
- . Differentiating ambiguity and ambiguity attitude. J. Econom. Theory (2004) 118(2):133–173Crossref, Google Scholar
- . Expected utility with purely subjective non-additive probabilities. J. Math. Econom. (1987) 16(1):65–88Crossref, Google Scholar
- . Maximin expected utility theory with non-unique prior. J. Math. Econom. (1989) 18(2):141–153Crossref, Google Scholar
- . Robust optimization made easy with ROME. Oper. Res. (2011) 59(4):973–985Link, Google Scholar
- . Prospect theory: An analysis of decision under risk. Econometrica (1979) 47(2):263–91Crossref, Google Scholar
- . Pricing objectives in large companies. Amer. Econom. Rev. (1958) 48(5):921–940Google Scholar
- . Ambiguity aversion, robustness, and the variational representation of preferences. Econometrica (2006) 74(6):1447–1498Crossref, Google Scholar
- . Risk, ambiguity, and the rank dependence axioms. Amer. Econom. Rev. (2009) 99(1):385–392Crossref, Google Scholar
- . Survey of capital budgeting: Theory and practice. J. Finance (1970) 25(2):349–360Crossref, Google Scholar
- . Managerial perspectives on risk and risk taking. Management Sci. (1987) 33(11):1404–1418Link, Google Scholar
- . Convex approximations of chance constrained programs. SIAM J. Optim. (2006) 17(4):969–996Crossref, Google Scholar
- . It is whether you win or lose: The importance of the overall probabilities of winning or losing in risky choice. J. Risk Uncertainty (2005) 30(1):5–19Crossref, Google Scholar
- . Translation of gambles and aspiration level effects in risky choice behavior. Management Sci. (1980) 26(10):1039–1060Link, Google Scholar
- . Further tests of aspiration level effects in risky choice behavior. Management Sci. (1981) 27(8):953–958Link, Google Scholar
- . Generalized deviations in risk analysis. Finance Stochastics (2006) 10(1):51–74Crossref, Google Scholar
- . Safety first and the holding of assets. Econometrica (1952) 20:431–449Crossref, Google Scholar
- . The Foundations of Statistics (1954) (Wiley, New York) Google Scholar
- . Subjective probability and expected utility without additivity. Econometrica (1989) 57(3):571–587Crossref, Google Scholar
- . Decision bias in the newsvendor problem with a known distribution: Experimental evidence. Management Sci. (2000) 46(3):404–420Link, Google Scholar
- . A behavioral model of rational choice. Quart. J. Econom. (1955) 69(1):99–118Crossref, Google Scholar
- . Advances in prospect theory: Cumulative representation of uncertainty. J. Risk Uncertainty (1992) 5(4):297–323Crossref, Google Scholar
- . An empirical test of gain-loss separability in prospect theory. Management Sci. (2008) 54(7):1322–1335Link, Google Scholar

