The theory of expected utility maximization (EUM) proposed by Bernoulli explains risk aversion as a consequence of … from the terms offered; and subjects often appear to be too risk averse with regard to small gambles (while still accepting … from judgments based on imprecise (and noisy) mental representation of the decision situation. In this model, risk aversion …

The theory of expected utility maximization (EUM) explains risk aversion as due to diminishing marginal utility of … subjects often appear to be too risk averse with regard to small gambles (while still accepting sufficiently favorable large … imprecise (and noisy) mental representation of the decision situation. In this model, risk aversion is predicted without any …

subjects appear to be too risk averse with regard to small gambles for this to be explained by diminishing marginal utility of … result from judgments based on imprecise (and noisy) mental representations of the decision situation. In this model, risk …

subjects appear to be too risk averse with regard to small gambles for this to be explained by diminishing marginal utility of … result from judgments based on imprecise (and noisy) mental representations of the decision situation. In this model, risk …

The theory of expected utility maximization (EUM) proposed by Bernoulli explains risk aversion as a consequence of … from the terms offered; and subjects often appear to be too risk averse with regard to small gambles (while still accepting … from judgments based on imprecise (and noisy) mental representation of the decision situation. In this model, risk aversion …