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"This theme paper focuses on political institutions and their effects on social choice. Institutions are argued to play a mediating rolebetween the preferences of individuals and social choices. In addition to playing an endogenous role in molding and channeling preferences, institutions...
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and psychology regarding how to model preference over gambles. A method for measuring risk preference combining revealed … preference and nonlinear programming is proposed. A small demonstration of the method was used to compare alternative theories of … risk preference. The application reveals contradictions of economic and psychology theories in terms of the assumption of …
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