A note on the standardized covariance

作者:Budescu David V*; Bo Yuanchao Emily
来源:Journal of Mathematical Psychology, 2017, 77: 180-184.
DOI:10.1016/j.jmp.2016.07.002

摘要

In a recent paper Andraszewicz and Rieskamp (2014) proposed using the standardized covariance, as a "measure of association, similarity and co-riskiness between choice options". They stress that the standardized covariance is not a measure of linear association, but do not specify its exact nature. We relate the standardized covariance to Zegers and ten Berge's (1985) family of metric association measures and show that is a measure of additive association, and we analyze some properties of this measure for binary lotteries. We distinguish between the case where both lotteries are driven by one (common) probability distribution as well as the more general case where the two are resolved, independently, by two distinct distributions, and we show how the range of the outcomes offered by the lotteries and their probability distributions drive the value of the standardized covariance.

  • 出版日期2017-4
  • 单位UCLA