Titlebook: Generalized Expected Utility Theory; The Rank-Dependent M John Quiggin Book 1993 Kluwer Academic Publishers 1993 European Union (EU).Financ

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https://doi.org/10.1057/9781137276186with the EU model. The most notable examples include the Allais problem, the common ratio effect, the coincidence of gambling and insurance, the Ellsberg problem and the phenomenon of preference reversal. It is therefore of interest to consider how well the RDEU model explains these various observat

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https://doi.org/10.1007/978-94-015-7729-8t, with the split between normative and descriptive approaches to the theory of choice under uncertainty. At one extreme are those for whom the ideal approach is to write down an appealing set of axioms, then derive the functional form implied by those axioms. A large part of the research agenda the