Calibration Results for Non-Expected Utility Theories

• – Rabin proved that a low level of risk aversion with respect to small gambles leads to a high, and absurd, level of risk aversion with respect to large gambles. Rabin's arguments strongly depend on expected utility theory, but we show that similar arguments apply to almost all non-expected utility theories.

• – WP645

• – Working Papers in Economics

• – 2006-07-24

• – eScholarship at Boston College

• – Safra, Zvi
• – Segal, Uzi

• – application/pdf

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