Calibrating the Subjective

Published 24 Dec 2024 in econ.TH | (2412.18486v2)

Abstract: I conduct Rabin's (2000) calibration exercise in the subjective expected utility realm. I show that the rejection of some risky bet by a risk-averse agent only implies the rejection of more extreme and less desirable bets and nothing more.

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Authors (1)

Mark Whitmeyer

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