Savage in the Market
研究了风险厌恶下主观期望效用（SEU）的行为公理刻画，通过个体在市场上的资产购买行为，证明满足“显示偏好公理”等价于存在SEU模型解释该行为。
We develop a behavioral axiomatic characterization of subjective expected utility (SEU) under risk aversion. Given is an individual agent's behavior in the market: assume a finite collection of asset purchases with corresponding prices. We show that such behavior satisfies a “revealed preference axiom” if and only if there exists a SEU model (a subjective probability over states and a concave utility function over money) that accounts for the given asset purchases.