Testing between alternative models of choice under uncertainty: Some initial results

@article{Battalio1990TestingBA,
  title={Testing between alternative models of choice under uncertainty: Some initial results},
  author={Raymond C. Battalio and John H. Kagel and Komain Jiranyakul},
  journal={Journal of Risk and Uncertainty},
  year={1990},
  volume={3},
  pages={25-50}
}
Experiments have identified a number of well-known violations of expected utility theory, giving rise to alternative models of choice under uncertainty, all of which are able to explain these violations. In this article, predictions of several prominent rival formulations are examined. No single alternative consistently organizes choices. Among the more important inconsistencies, we identify conditions generating systematic fanning in of indifference curves in the unit probability triangle, and… 
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