Buschena, David; Zilberman, David - In: Journal of Risk and Uncertainty 11 (1995) 3, pp. 233-62
Experimental studies have discovered behavior that is inconsistent with the expected utility model (EU) of risky choice (von Neumann and Morgenstern, 1953). The two approaches to address these paradoxes are tested: generalized expected utility models (GEU) and models incorporating...