We present a tractable generalization of quantal response equilibrium via non-expected utility preferences. In particular, we introduce concave perturbed utility games in which an individual has strategy-specific utility indices that depend on the outcome of the game and an additively separable...

This paper takes seriously that the quasilinear utility model is an approximation. We interpret approximation error as arising because individuals are satisficers. We investigate the consequences of individual satisficng for modelling aggregate demand, providing an approximate aggregation...

This paper studies when stochastic choices are consistent with behavior from Bayesian expected utility maximization and information acquisition. This is a limited dataset since other characterization require state-dependent stochastic choice data. The conditions that characterize this behavior...

Using a revealed preference approach, we conduct an experiment where subjects make choices from linear convex budgets in the domain of risk. We find that many individuals prefer mixtures of lotteries in ways that systematically rule out expected utility behavior. We explore the extent to which...