In the Allais' paradox, if an agent's preferences violate independence axiom, the (non-Expected Utility) decision maker appears to be prone to dynamic inconsistency, that is in some sequential decision problem he may be expected to embark upon (action) plans which he is not going to follow...

Multinomial logit is the canonical model of discrete choice but widely criticized for requiring functional form assumptions as foundation. The present paper shows that logit is behaviorally founded without such assumptions. Logit's functional form obtains if relative choice probabilities are...