of income models can predict framing induced preference reversals, a willingness to pay-willingness to accept gap for … lotteries, and choice-value preference reversals. The main contribution is a theorem. It is proved that for all utility … functions where initial wealth and income enter separately, either there will be preference reversals or preferences can be …

Preference reversals are frequently observed in the lab, but almost all designs use completely transparent prospects … a recent explanation of preference reversals by loss aversion, which would also restrict the incidence of reversals …

high probability events and preferences as they reduce preference reversals. We find insensitivity to scope for food safety …