Sproule, Robert; Valsan, Calin - In: Economics Bulletin 29 (2009) 4, pp. 2656-2664
The validity of most axioms which underlie the expected utility model has been the object of intense empirical testing. These include the independence, betweenness, transitivity, monotonicity, reduction, and non-satiation axioms. The sole, present-day test for the non-satiation axiom is...
