Correlation Made Simple: Applications to Salience and Regret Theory
提出一种对风险模型进行公理化的方法，使决策者的选择能体现相关性。通过将联合测量技术扩展到非确定性情形，放松了传递性公理，并在统一框架下为凸显理论提供了简洁的公理化，便于与后悔、参照依赖等模型比较。
Abstract I offer an axiomatization of risk models where the choices of the decision maker are correlation sensitive. By extending the techniques of conjoint measurement to the nondeterministic case, I show that transitivity is the von Neumann-Morgenstern axiom that has to be relaxed to allow for these richer patterns of behavior. To illustrate the advantages of the modeling choice, we provide a simple axiomatization for the salience theory model in our general framework. This approach leads to clear comparison to popular preexisting models, such as regret and reference dependence, and allows one to single out the ordering property as the feature that brings salience theory outside the prospect theory realm.