Evaluating decision maker “type” under pp-additive utility representations

• We present a method for classifying decision makers under pp-additive models.
• Our method accommodates decision makers whose risk attitude is context sensitive.
• We present the results of a new experiment designed to evaluate pp-additive models.

Recent work by  Luce, 2010a and Luce, 2010b on pp-additive utility theory has yielded three distinct representation classes that correspond to risk attitude. We present a method for classifying decision makers under such pp-additive representations. Our approach extends the classification criterion described by  Luce (2010b) to accommodate decision makers with risk attitudes that vary as a function of the decision environment. We present the results of a new decision making under risk experiment designed to evaluate risk attitude. We found that no single pp-additive representation model emerged as the best description of the participants’ preferences. Participants were best described by consistent risk attitudes and risk attitudes that vary as a function of the decision environment in roughly equal numbers.