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Some mixed results on boundary effects

Authors
Journal
Economics Letters
0165-1765
Publisher
Elsevier
Publication Date
Volume
39
Issue
3
Identifiers
DOI: 10.1016/0165-1765(92)90260-6
Disciplines
  • Design
  • Mathematics

Abstract

Abstract Recent experimental evidence suggests that expected utility theory performs well when all lotteries have the same number of probable outcomes. A straightforward model designed to accommodate this evidence also allows Allais paradox behavior but predicts violations of stochastic dominance preference.

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