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  1. A Second-Generation Disappointment Aversion Theory of Decision Making Under Risk.Pavlo Blavatskyy - 2018 - Theory and Decision 84 (1):29-60.
    This paper presents a new decision theory for modelling choice under risk. The new theory is a two-parameter generalization of expected utility theory. The proposed theory assumes that a decision maker: behaves as if maximizing expected utility; but may experience disappointment when the utility of a lottery’s outcome falls short of the expected utility of the lottery; and may have a preference for gambling. The proposed theory can rationalize the fourfold pattern of risk attitudes; the common ratio effect and the (...)
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  • Similarity and the Trustworthiness of Distributive Judgements.Alex Voorhoeve, Arnaldur Stefansson & Brian Wallace - 2019 - Economics and Philosophy 35 (3):537-561.
    When people must either save a greater number of people from a smaller harm or a smaller number from a greater harm, do their choices reflect a reasonable moral outlook? We pursue this question with the help of an experiment. In our experiment, two-fifths of subjects employ a similarity heuristic. When alternatives appear dissimilar in terms of the number saved but similar in terms of the magnitude of harm prevented, this heuristic mandates saving the greater number. In our experiment, this (...)
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  • An Experimental Investigation of Transitivity in Set Ranking.Amélie Vrijdags - 2010 - Theory and Decision 68 (1-2):213-232.
    A decision under ‘complete uncertainty’ is one where the decision maker knows the set of possible outcomes for each decision, but cannot assign probabilities to those outcomes. This way, the problem of ranking decisions is reduced to a problem of ranking sets of outcomes. All rankings that have emerged in the literature in this domain imply transitivity. In the current study, transitivity is subjected to an empirical evaluation in two experiments, where subjects are asked to choose between sets of monetary (...)
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