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Direct linkRegenwetter, Michel; Davis-Stober, Clintin P. – Psychological Review, 2012
Theories of rational choice often make the structural consistency assumption that every decision maker's binary strict preference among choice alternatives forms a "strict weak order". Likewise, the very concept of a "utility function" over lotteries in normative, prescriptive, and descriptive theory is mathematically equivalent to strict weak…
Descriptors: Mathematical Models, Decision Making, Behavioral Sciences, Validity
