Predictably intransitive preferences
The transitivity axiom is common to nearly all descriptive and normative utility theories of choice under risk. Contrary to both intuition and common assumption, the little-known ’Steinhaus-Trybula paradox’ shows the relation ’stochastically greater than’ will not always be transitive, in contradict...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Cambridge University Press
2018-05-01
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| Series: | Judgment and Decision Making |
| Subjects: | |
| Online Access: | https://www.cambridge.org/core/product/identifier/S193029750000766X/type/journal_article |