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This article reviews recent developments in revealed preference theory. It discusses the testable implications of … different qualifications depending on the functional forms in the theory under consideration …
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behavioural models suggested by psychology (i.e., weighted probabilities applied to regret and rejoice theory), and by updating …
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We investigate violations of consequentialism in the form of the stochastic dominance property. The property is shared by many theories of choice and implies that the decision-maker prefers receiving the best outcome for sure over all lotteries that involve multiple outcomes. We run experiments...
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includes Yaari's dual theory of choice and quantile maximization as special cases. We characterize when the optimal solution …
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