Pratt, John - In: Journal of Risk and Uncertainty 31 (2005) 2, pp. 109-127
Call b your balance function at wealth W if you are indifferent between W and a 50–50 lottery with outcomes x and b(x). Given one b, u is arbitrary on one side of W but then determined on the other. Given two b‘s, u is arbitrary between the two W′ s but then determined elsewhere....
