Markowitz, Harry. 1954. Utility of Wealth,” The Journal of Political Economy, April “The 60(2): pp. 151-158. Marschak, Jacob. 1950. Behavior, Uncertain Prospects, and Measurable Utility,” “Rational Econometrica, April 18(2): pp. 111-141. Morrison, Donald. 1967. the Consistency of Preferences in Allais’ Paradox,” “On September pp. 373-383. Behavioral Sciences, 12(5), Moskowitz, Herbert. 1974. of Problem Representation and Feedback on “Effects Rational Behavior in Allais and Morlat-type Problems,” Decision Sciences, April 5(2): pp. 225-252. Raiffa, Howard. 1968. Decision Analysis: Introductory Lectures on Choices under Uncertainty. Reading, MA: Addison-Wesley. Savage, Leonard. 1954. The Foundation of Statistics. Mineola, NY: Dover. Slovic, Paul and Amos Tversky. 1974. Accepts Savage’s Axiom?,” Behavioral “Who Science, November 19(6): pp. 368-373. Tuthill, Jonathan and Darren Frechette. 2002. Utility Theories: “Non-Expected Weighted Expected, Rank Dependent, and, Cumulative Prospect Theory Utility,” Proceedings of the NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management. St. Louis, MO. Tversky, Amos and Daniel Kahneman. 1992. in Prospect Theory: Cumulative “Advances Representation of Uncertainty,” The Journal of Risk and Uncertainty, October (5)4: pp. 297-323. Von Neumann, John and Oskar Morgenstern. 1944. Theory of Games and Economic Behavior. Princeton, NJ: Princeton University Press. APPENDICES A1. Survey type #1; NSolo=46, NPair=48 In each part of this survey, there are two options (A and B). Each option represents a hypothetical lottery for small money amounts. Please circle the option you would prefer. PART ONE Option A:
Markowitz, Harry. 1954. “The Utility of Wealth,” The Journal of Political Economy, April 60(2): pp. 151-158. Marschak, Jacob. 1950. “Rational Behavior, Uncertain Prospects, and Measurable Utility,” Econometrica, April 18(2): pp. 111-141. Morrison, Donald. 1967. “On the Consistency of Preferences in Allais’ Paradox,” Behavioral Sciences, September 12(5), pp. 373-383. Moskowitz, Herbert. 1974. “Effects of Problem Representation and Feedback on Rational Behavior in Allais and Morlat-type Problems,” Decision Sciences, April 5(2): pp. 225-252. Raiffa, Howard. 1968. Decision Analysis: Introductory Lectures on Choices under Uncertainty. Reading, MA: Addison-Wesley. Savage, Leonard. 1954. The Foundation of Statistics. Mineola, NY: Dover. Slovic, Paul and Amos Tversky. 1974. “Who Accepts Savage’s Axiom?,” Behavioral Science, November 19(6): pp. 368-373. Tuthill, Jonathan and Darren Frechette. 2002. “Non-Expected Utility Theories: Weighted Expected, Rank Dependent, and, Cumulative Prospect Theory Utility,” Proceedings of the NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management. St. Louis, MO. Tversky, Amos and Daniel Kahneman. 1992. “Advances in Prospect Theory: Cumulative Representation of Uncertainty,” The Journal of Risk and Uncertainty, October (5)4: pp. 297-323. Von Neumann, John and Oskar Morgenstern. 1944. Theory of Games and Economic Behavior. Princeton, NJ: Princeton University Press. APPENDICES A1. Survey type #1; NSolo=46, NPair=48 In each part of this survey, there are two options (A and B). Each option represents a hypothetical lottery for small money amounts. Please circle the option you would prefer. PART ONE Option A:
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