Schmidt, U.

utility model outcome gambling theory function preference gambling effect model gamble prospect effect decision attribute-speci fic evaluation 1 − r lottery evaluation riskles dominance schmidt prospect theory theorem violation weighting functions weighting equivalent aversion probability choice condition utility function ∈ 0 1 wakker gambling effect management tversky state trade-off gambling-utility model certainty equivalent certainty fi rst proof uncertainty paper management sci fishburn bleichrodt 1/2 science attribute-speci attribute outcome x utility functions monotonicity loss aversion section additive utility transitivity example 1 − q risk aversion approach reference point ordinal equivalence 1 f 2 result fi rst approach p q ∈ gamble monotonicity value additive point health relation archimedean axiom reference journal trade-off consistency consistency context-dependent model