Variance of Utility Parameter Estimates and Predictions in Siegel's Model of Repetitive Choice.
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A review of the Siegel expected utility maximization model for the k-light experiment. The variances of estimates of the model parameters and of the model predictions are obtained. The Siegel experiments are analyzed, and it is shown that in no case are the observed deviations of predicted from actual behavior as great as two standard deviations. The Memorandum is of particular interest to psychologists studying choice behavior. 17 pp
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