Dhami, Sanjit; al-Nowaihi, Ali - Department of Economics, Leicester University - 2010
satisfactory. The BP has largely been considered within an expected utility framework. We clarify the Becker proposition and its … welfare implications under expected utility. We show that BP also holds under rank dependent expected utility and cumulative … prospect theory, the two main alternatives to expected utility. al-Nowaihi and Dhami (2010a) recently propose composite …