An iterative elimination procedure for two-dimensional attribute decision making that is recently proposed by Indo(2022a) can replicate the typical three types of contextual effects, the so-called big three, in the field of consumer brand choice. This paper extended the iterative elimination...

We document a robust dynamic inconsistency in risky choice. Using a unique brokerage dataset and a series of experiments, we compare people's initial risk-taking plans to their subsequent decisions. Across settings, people accept risk as part of a “loss-exit” strategy—planning to continue...

In Yaari's (1987) dual theory of choice under risk, risks preferences are based on a functional that depends on a subjective function called distortion. In the context of Wang's (1996) premium principle, Wang and Young (1998) considered a sequence of classes of partial orderings of risk...