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    • Mixture-Averse Preferences and Heterogeneous Stock Market Participation 

      Sarver, TD (Economic Research Initiatives at Duke (ERID), 2016-09-09)
      To study intertemporal decisions under risk, we develop a new recursive model of non-expected-utility preferences. The main axiom of our analysis is called mixture aversion, as it captures a dislike of probabilistic mixtures ...