Regret Theory: A Bold Alternative to the Alternatives | The Economic Journal | Oxford
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We present a new behavioral foundation for regret theory. The central axiom of this
foundation—trade-off consistency—renders regret theory observable at the individual level …

We examine risk attitudes under regret theory and derive analytical expressions for two
components—the resolution and regret premiums—of the risk premium under regret theory …

Abstract Loomes (2010, Psychological Review) proposed the Perceived Relative Argument
Model (PRAM) as a novel descriptive theory for risky choice. PRAM differs from models like …

This paper proposes a discrete mixture model which assigns individuals, up to a probability,
to either a class of random utility (RU) maximizers or a class of random regret (RR) …

The present paper addresses one of the most important assumptions in consumer
preference patterns: transitivity. This assumption states that, logically, selections between …

Type I contextuality or inconsistent connectedness is a fundamental feature of both the
classical as well as the quantum realms. Type II contextuality (true contextuality or CHSH …

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 …

We report approaches for measuring the transitivity properties of fuzzy preference relations.
The concept of transitivity measurement is proposed to quantify the transitivity degree of …

This study presents a novel group Three-Way Decision (TWD) method that effectively
addresses decision-making problems characterized by interval-valued uncertain information …