A Model of Probabilistic Choice Satisfying First-Order Stochastic Dominance
提出了一个在风险下进行概率二元选择的新模型，该模型始终满足一阶随机占优，由四个标准公理和两个新公理推导得出，比现有模型更好地拟合实验数据，并可扩展至消费者需求等领域。
This paper presents a new model of probabilistic binary choice under risk. In this model, a decision maker always satisfies first-order stochastic dominance. If neither lottery stochastically dominates the other alternative, a decision maker chooses in a probabilistic manner. The proposed model is derived from four standard axioms (completeness, weak stochastic transitivity, continuity, and common consequence independence) and two relatively new axioms. The proposed model provides a better fit to experimental data than do existing models. The baseline model can be extended to other domains such as modeling variable consumer demand. This paper was accepted by Peter Wakker, decision analysis.