Comment on “A Model of Probabilistic Choice Satisfying First-Order Stochastic Dominance” by Pavlo Blavatskyy
Graham Loomes, Inmaculada Rodríguez-Puerta, Jose-Luis Pinto-Prades
Management Science · 2014 · Volume 60 · Issue 5
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. This paper was accepted by Rakesh Sarin, decision analysis .
Keywords
decision analysis, risk, economics, microeconomic behavior, utility, probabilistic choice functions
Enable JavaScript for citation tools and additional paper interactions.