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An expected utility maximizer walks into a bar...

Burghart, Daniel; Glimcher, Paul; Lazzaro, Stephanie - In: Journal of Risk and Uncertainty 46 (2013) 3, pp. 215-246

We conducted field experiments at a bar to test whether blood alcohol concentration (BAC) correlates with violations of the generalized axiom of revealed preference (GARP) and the independence axiom. We found that individuals with BACs well above the legal limit for driving adhere to GARP and...

Persistent link: https://www.econbiz.de/10010863428

The arguments of utility: Preference reversals in expected utility of income models

Lindsay, Luke - In: Journal of Risk and Uncertainty 46 (2013) 2, pp. 175-189

There is a debate in the literature about the arguments of utility in expected utility theory. Some implicitly assume …

Persistent link: https://www.econbiz.de/10010863429

Risk aversion and expected-utility theory: A calibration exercise

Schechter, Laura - In: Journal of Risk and Uncertainty 35 (2007) 1, pp. 67-76

Rabin (Econometrica 68(5):1281–1292, <CitationRef CitationID="CR19">2000</CitationRef>) argues that, under expected-utility, observed risk aversion over modest stakes implies extremely high risk aversion over large stakes. Cox and Sadiraj (Games Econom. Behav. 56(1):45–60, <CitationRef CitationID="CR5">2006</CitationRef>) have replied that this is a problem of expected-utility...</citationref></citationref>

Persistent link: https://www.econbiz.de/10005809685

Rationality on the rise: Why relative risk aversion increases with stake size

Fehr-Duda, Helga; Bruhin, Adrian; Epper, Thomas; … - In: Journal of Risk and Uncertainty 40 (2010) 2, pp. 147-180

Persistent link: https://www.econbiz.de/10008552547