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Généralisation de l’espérance d’utilité : le cas des jeux de loterie en France

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  • Serge Blondel

Abstract

[eng] Generalisation of expected utility : the case of lotteries in France.. We take as starting point a stylised fact identified since Friedman and Savage (1948) : the poorer people are the more they gamble. This conclusion is to be found in the case of lotteries in France. It can be explained in the framework of expected utility (EU) theory, but only on the assumption of a utility function that exceptionally calls into question the usual assumption of aversion to risk. We examine the predictions of rank-dependent expected utility theory, the most popular generalisation of EU. This theory is consistent with a propensity to gamble that decreases as a function of wealth while still maintaining an otherwise concave utility function. This result argues in favour of a broadening of the rationality with respect to EU taken on its own. [fre] Nous partons d’un fait stylisé identifié depuis Friedman et Savage : plus les gens sont défavorisés, plus ils jouent. Ce constat se retrouve concernant les jeux de loteries en France. Cette observation peut s’expliquer dans le cadre de la théorie de l’espérance d’utilité (EU), mais seulement en supposant une fonction d’utilité remettant localement en cause l’hypothèse habituelle d’aversion pour le risque. Nous étudions les prédictions de la théorie de l’EU dépendante du rang, la généralisation de l’EU la plus populaire. Cette théorie est cohérente avec une propension au jeu décroissante en fonction de la richesse, tout en conservant une fonction d’utilité globalement concave. Ce résultat milite en faveur d’un élargissement de la rationalité par rapport à la seule EU.

Suggested Citation

  • Serge Blondel, 2003. "Généralisation de l’espérance d’utilité : le cas des jeux de loterie en France," Économie et Prévision, Programme National Persée, vol. 159(3), pages 105-112.
    • Handle: RePEc:prs:ecoprv:ecop_0249-4744_2003_num_159_3_6916
    DOI: 10.3406/ecop.2003.6916
    Note: DOI:10.3406/ecop.2003.6916
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    References listed on IDEAS

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