Blavatskyy, Pavlo - In: Theory and Decision 60 (2006) 1, pp. 17-33
In binary choice between discrete outcome lotteries, an individual may prefer lottery L <Subscript>1</Subscript> to lottery L <Subscript>2</Subscript> when the probability that L <Subscript>1</Subscript> delivers a better outcome than L <Subscript>2</Subscript> is higher than the probability that L <Subscript>2</Subscript> delivers a better outcome than L <Subscript>1</Subscript>. Such a preference can be rationalized by three...</subscript></subscript></subscript></subscript></subscript></subscript>