This article argues that Lara Buchak’s risk-weighted expected utility (REU) theory fails to offer a true alternative to expected utility theory. Under commonly held assumptions about dynamic choice and the framing of decision problems, rational agents are guided by their attitudes to temporally extended courses of action. If so, REU theory makes approximately the same recommendations as expected utility theory. Being more permissive about dynamic choice or framing, however, undermines the theory’s claim to capturing a steady choice disposition in the face of risk. I argue that this poses a challenge to alternatives to expected utility theory more generally.

中文翻译：

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风险规避和长期

本文认为 Lara Buchak 的风险加权预期效用 (REU) 理论未能提供预期效用理论的真正替代方案。在普遍持有的关于动态选择和决策问题框架的假设下，理性的代理人被他们对时间延长的行动路线的态度所引导。如果是这样，REU 理论的建议与预期效用理论大致相同。然而，对动态选择或框架更加宽容，会破坏该理论在面临风险时捕捉稳定选择倾向的主张。我认为这对更普遍的预期效用理论的替代方案提出了挑战。