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  1. Nonlinear decision weights or moment-based preferences? A model competition involving described and experienced skewness.Leonidas Spiliopoulos & Ralph Hertwig - 2019 - Cognition 183 (C):99-123.
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  • A second-generation disappointment aversion theory of decision making under risk.Pavlo Blavatskyy - 2018 - Theory and Decision 84 (1):29-60.
    This paper presents a new decision theory for modelling choice under risk. The new theory is a two-parameter generalization of expected utility theory. The proposed theory assumes that a decision maker: behaves as if maximizing expected utility; but may experience disappointment when the utility of a lottery’s outcome falls short of the expected utility of the lottery; and may have a preference for gambling. The proposed theory can rationalize the fourfold pattern of risk attitudes; the common ratio effect and the (...)
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