Lindsay, Luke - In: Journal of Risk and Uncertainty 46 (2013) 2, pp. 175-189
of income models can predict framing induced preference reversals, a willingness to pay-willingness to accept gap for … lotteries, and choice-value preference reversals. The main contribution is a theorem. It is proved that for all utility … functions where initial wealth and income enter separately, either there will be preference reversals or preferences can be …