Utility Analysis and Group Behavior: An Empirical Study
The following sections are included:INTRODUCTIONTHE EXPECTED-UTILITY HYPOTHESISEXPERIMENTAL BACKGROUND: THE RACE TRACK AND PARIMUTUEL BETTINGTHE EXPERIMENTAL PROBABILITY CURVEFORMULATION OF THE MODEL MR. AVMARTAVMART'S INDIFFERENCE CURVEAVMART'S UTILITY OF MONEY CURVECONCLUSION