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={R. Battalio and J. 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… CONTINUE READING
299 Citations
Are Universal Preferences Possible? Calibration Results for Non-Expected Utility Theories
- Mathematics
- 2005
- 8
- PDF
Modeling choice and valuation in decision experiments.
- Psychology, Medicine
- Psychological review
- 2010
- 56
- Highly Influenced
- PDF
References
SHOWING 1-10 OF 31 REFERENCES
Further Evidence of the Impact of Regret and Disappointment in Choice under Uncertainty
- Economics
- 1988
- 150
Regret Theory: An alternative theory of rational choice under uncertainty Review of Economic Studies
- Mathematics, Economics
- 1982
- 3,141