We present a preference foundation for Chance Theory (CT), a model of decision making under uncertainty where the … and the potential increments over it are evaluated by subjective expected utility with a risky utility function u. In … contrast to earlier approaches with models that aimed at separating riskless and risky utility, CT does not violate basic …

subsequent times learns to behave as prescribed by the expected-utility model. To do so, the analysis moves from the relevant … probability estimations and outcome preferences according to the learning models suggested by neuroscience (i.e., adaptive …), and this is true to a greater extent in a complex context. The expected-utility model explains real behaviours in the long …

observable events are regular open subsets of S. We axiomatically characterize Subjective Expected Utility (SEU) representations … of conditional preferences over acts, involving a continuous utility function on X (unique up to positive affine … transformations), and a unique Borel probability measure on S, along with an auxiliary apparatus called a "liminal structure", which …

preferences. Among the behavioral patterns that allow for a clear-cut interpretation on the decision level, we find that roughly … almost half of our subjects. Among those, roughly 24%are rational expected utility maximizers, 24% make occasional mistakes …