An individual's preference for risky alternatives is influenced by the strength of preference he feels for the consequences and his attitude toward risk taking. Conventional measures of risk attitude confound these two factors. In this paper we formally separate these factors and explore how...

This paper is the second of a two-paper study of fairness issues for decisions that affect the benefits received and the risks encountered by a population. The study examines fairness for individuals and for homogeneous groups within the population. It considers fairness both for population...

In this paper the theory and estimation procedures for several consumer preference models are discussed. Predictive accuracy in the form of internal consistency of these models is compared in an empirical application. Consumer decision situations are classified into two classes: decisions under...