behaviors that are difficult to explain through classic theory …

processes we do not find that those subjects showing ambiguity aversion in an urn experiment based on Halevy (2007 …

laboratory experiment. In particular, the same participants within the same experimental session provide higher valuations for …

We present a theory of choice among lotteries in which the decision maker's attention is drawn to (precisely defined … distinguish it from Prospect Theory, which we test. We also use the model to modify the standard asset pricing framework, and use …

casino visitors who are risk averse and those who are risk loving as well as those who may suffer from gambling addictions of …

The aim of this paper is to propose a model of decision-making for lotteries. The key element of the theory is the use … account for lottery evaluation. Our contribution explains the major violations of the expected utility theory for decisions on …