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Judging statistical models of individual decision making under risk using in- and out-of-sample criteria.

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Academic year: 2017

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Figure 1. Example Decision Task.
Table 3. Estimates assuming Fechner error with Probit and Logit link.
Table 4. Estimates assuming Contextual utility with Probit and Logit link.
Table 6 shows that based on AIC and BIC criteria, the contextual utility specifications are preferred over Fechner and Luce error stories within the EUT and mixture functionals, respectively
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