A Unifying Approach to Axiomatic Non-Expected Utility Theories: Correction and Comment
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Chew and Epstein attempted to provide a unifying axiomatic framework for a number of generalizations of expected utility theory. Wakker pointed out that Theorem A, on which the central unifying proposition is based, is false. In this note, we apply Segal′s result to prove that Theorem 2 is nevertheless valid with minor modifications.