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arXiv · 1907.09115

Measuring Belief and Risk Attitude

Sven Neth
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Abstract

Ramsey (1926) sketches a proposal for measuring the subjective probabilities of an agent by their observable preferences, assuming that the agent is an expected utility maximizer. I show how to extend the spirit of Ramsey's method to a strictly wider class of agents: risk-weighted expected utility maximizers (Buchak 2013). In particular, I show how we can measure the risk attitudes of an agent by their observable preferences, assuming that the agent is a risk-weighted expected utility maximizer. Further, we can leverage this method to measure the subjective probabilities of a risk-weighted expected utility maximizer.

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Sven Neth. 2019-07-22. Measuring Belief and Risk Attitude. https://doi.org/10.4204/eptcs.297.22

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