This paper identifies two distinct types of payoff kinks that can be exhibited by preference functions over monetary lotteries - "locally separable" vs. "locally nonseparable" - and illustrates their relationship to the payoff and probability derivatives of such functions. Expected utility and...

Robustify - To identify the analytical aspects of a model that continue to hold under more general conditions. This usually requires expressing the model and its results in a particular manner, as statements that may be logically equivalent under the assumptions of a given model can differ...

Models and Experiments in Risk and Rationality presents original contributions to the areas of individual choice, experimental economics, operations and analysis, multiple criteria decision making, market uncertainty, game theory and social choice. The papers, which were presented at the FUR VI...