We propose a new measure of deviations from expected utility, given data on economic choices under risk and uncertainty … deviation (in beliefs, utility, or perceived prices) is within e of expected utility theory. The number e can then be used as a … are consistent with utility maximization, but not expected utility maximization. The correlation of our measure with …

We propose a new measure of deviations from expected utility, given data on economic choices under risk and uncertainty … deviation (in beliefs, utility, or perceived prices) is within e of expected utility theory. The number e can then be used as a … are consistent with utility maximization, but not expected utility maximization. The correlation of our measure with …

mitigation. We conducted a framed-field experiment among a Germany-wide sample to provide a revealed preference study on the …