historical perspective and link our findings to a suggestion as to how decision theory could make use of it today. We emphasize …, with how it generally came to function within decision theory from the late 1970s onwards: that is, as an empirical … refutation of the expected utility hypothesis, and more specifically of the condition of von Neumann-Morgenstern independence …

So far, "salience theory of choice under risk" has been mainly applied to situations of risk rather than to those of … uncertainty. In this paper, we show that salience theory provides the prediction that Allais paradoxes should never occur in the …