Mason, Charles; Shogren, Jason; Settle, Chad; List, John - In: Journal of Risk and Uncertainty 31 (2005) 2, pp. 187-215
We conduct a battery of experiments in which agents make choices from several pairs of all-loss-lotteries. Using these choices, we estimate a representation of individual preferences over lotteries. We find statistically and economically significant departures from expected utility maximization...