The Markowitz model of utility supplemented with a small degree of probability distortion as an explanation of outcomes of Allais experiments over large and small payoffs and gambling on unlikely outcomes.

  • D. Peel
  • , J. Zhang
  • , D. Law
  • , D.A. Peel (Editor)

Research output: Chapter in Book/Report/Conference proceedingChapter

Original languageEnglish
Title of host publicationEconomics of Betting Markets
PublisherTaylor and Francis
Edition2009
ISBN (Print)0415557306
Publication statusPublished - 1 Jan 2009

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