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Utility of a quarter-million

Blavatskyy, P.R. (2012) Utility of a quarter-million. Economics Letters, 117 (3). pp. 650-653.

Link to Published Version: http://dx.doi.org/10.1016/j.econlet.2012.08.011
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Abstract

This paper presents a new method how to elicit the Bernoulli utility function over a wide range of monetary outcomes using approximation through Taylor expansion. The new method is applied to the natural experiment provided by the Swiss version of the television show Deal or No Deal.

Item Type: Journal Article
Publisher: Elsevier
Copyright: © 2012 Elsevier B.V.
URI: http://researchrepository.murdoch.edu.au/id/eprint/30534
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