Comment on “A model of probabilistic choice satisfying first-order stochastic dominance” by Pavlo Blavatskyy

Graham Loomes, Inmaculada Rodríguez-Puerta, Jose Luis Pinto-Prades

Research output: Contribution to journalComment/debate

Abstract

We present examples of existing evidence that lead us to be cautious about claims made in the original paper [Blavatskyy PR (2011) A model of probabilistic choice satisfying first-order stochastic dominance. Management Sci. 57(3):542–548] that the proposed model provides a better fit to experimental data than do existing models. We raise concerns about the accuracy of this and other assertions and about the adequacy of the comparisons made with alternative models in the existing literature.
Original languageEnglish
Pages (from-to)1346-1350
Number of pages5
JournalManagement Science
Volume60
Issue number5
Early online date4 Nov 2013
DOIs
Publication statusPublished - May 2014

Keywords

  • decision analysis
  • risk
  • economics
  • microeconomic behaviour
  • probabilistic choice functions

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