Prediction of Bids for Two-Outcome Gambles in a Casino Setting

Abstract

An experimental game was conducted in a Las Vegas casino. Ninety twooutcome gambles were presented in turn, and the player's monetary evaluation of each gamble was determined by the Marschak bidding procedure. Ordinal tests supported the monotonicity and the cancellation properties that are necessary for any from the family of expectation models. A number… (More)

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