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Original Citation:
Do individual violations of subjective expected utility persist in markets? Insights from an experiment
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Diagram 1.A
MARKET SESSION 1. 1, p = 5%
Market day
8, 00 7, 00 6,00 5,00 4, 00 3,00 2, 00 1,00B
id
(A
)
-
B
id
(R
)
10 8 6 4 2 0 -2 -4 -6 DIFF2 DIFF3 DIFF4 DIFF5 DIFF6 DIFF7 DIFF8 NEUTRAL CONFH CONFLDiagram 1.B
MARKET SESSI ON 1.2, p = 5%
Mark et day
8, 00 7,00 6, 00 5, 00 4,00 3,00 2, 00 1,00B
id
(A
)
-
B
id
(R
)
20 16 12 8 4 0 -4 -8 -12 -16 -20 DIFF2 DIFF3 DIFF4 DIFF5 DIFF6 DIFF7 DIFF8 NEUTRAL CONFH CONFLDiagram 1.C
MARKET SESSION 1.3, p = 5%
Market day
8, 00 7, 00 6,00 5, 00 4, 00 3, 00 2, 00 1,00B
id
(A
)
-
B
id
(R
)
6 4 2 0 -2 -4 -6 -8 DIFF2 DIFF3 DIFF4 DIFF5 DIFF6 DIFF7 DIFF8 NEUTRAL CONFH CONFLDiagram 1.D
MARKET SESSION 1.1, p = 95%
Mark et day
8, 00 7, 00 6,00 5, 00 4, 00 3,00 2,00 1,00B
id
(A
)
-
B
id
(R
)
100 90 80 70 60 50 40 30 20 10 0 -10 -20 -30 -40 -50 -60 -70 -80 90 -100 DIFF1 DIFF2 DIFF3 DIFF4 DIFF5 DIFF6 DIFF7 DIFF8 NEUTRAL CONFH CONFLDiagram 1.E
MARKET SESSI ON 1.2, p = 95%
Mark et day
8, 00 7,00 6, 00 5, 00 4,00 3,00 2, 00 1,00B
id
(A
)
-
B
id
(R
)
20 10 0 -10 -20 -30 -40 -50 -60 -70 -80 DIFF2 DIFF3 DIFF4 DIFF5 DIFF6 DIFF7 DIFF8 NEUTRAL CONFH CONFLDiagram 1.F
MARKET SESSION 1.3, p = 95%
Mark et day
8, 00 7, 00 6,00 5,00 4, 00 3, 00 2, 00 1, 00B
id
(A
)
-
B
id
(R
)
100 90 80 70 60 50 40 30 20 10 0 -10 -20 -30 -40 -50 -60 -70 -80 90 -100 DIFF1 DIFF2 DIFF3 DIFF4 DIFF5 DIFF6 DIFF7 DIFF8 NEUTRAL CONFH CONFLDiagram 1.G
MARKET SESSI ON 1.4, p = 50%
Mark et day
8, 00 7,00 6, 00 5, 00 4,00 3,00 2, 00 1,00B
id
(A
)
-
B
id
(R
)
60 50 40 30 20 10 0 -10 -20 -30 -40 -50 -60 DIFF2 DIFF3 DIFF4 DIFF5 DIFF6 DIFF7 DIFF8 NEUTRAL CONFH CONFLDiagram 1.H
MARKET SESSI ON 1.5, p = 50%
Mark et day
8, 00 7,00 6, 00 5, 00 4,00 3,00 2, 00 1,00B
id
(A
)
-
B
id
(R
)
50 40 30 20 10 0 -10 -20 -30 -40 DIFF1 DIFF2 DIFF3 DIFF4 DIFF5 DIFF6 NEUTRAL CONFH CONFLDiagram 1.I
MARKET SESSI ON 1.6, p = 50%
Mark et day
8, 00 7,00 6, 00 5, 00 4,00 3,00 2, 00 1,00B
id
(A
)
-
B
id
(A
)
20 10 0 -10 -20 -30 -40 DIFF2 DIFF3 DIFF4 DIFF5 DIFF6 DIFF7 DIFF8 NEUTRAL CONFH CONFLDiagram 1.J
MARKET SESSI ON 1.4, p = 50% c
Mark et day
8, 00 7,00 6, 00 5, 00 4,00 3,00 2, 00 1,00B
id
(A
)
-
B
id
(R
)
50 40 30 20 10 0 -10 -20 -30 -40 -50 DIFF2 DIFF3 DIFF4 DIFF5 DIFF6 DIFF7 DIFF8 NEUTRAL CONFH CONFLDiagram 1.K
MARKET SESSI ON 1.5, p = 50% c
Mark et day
8, 00 7,00 6, 00 5, 00 4,00 3,00 2, 00 1,00B
id
(A
)
-
B
id
(R
)
40 30 20 10 0 -10 -20 -30 DIFF2 DIFF3 DIFF4 DIFF5 DIFF6 DIFF7 DIFF8 NEUTRAL CONFL CONFHDiagram 1.L
MARKET SESSI ON 1.6, p =50%c
Mark et day
8, 00 7,00 6, 00 5, 00 4,00 3,00 2, 00 1,00B
id
(A
)
-
B
id
(R
)
20 10 0 -10 -20 -30 -40 DIFF2 DIFF3 DIFF4 DIFF5 DIFF6 DIFF7 DIFF8 NEUTRAL CONFL CONFHDIFF2 DIFF3 DIFF4 DIFF5 DIFF6 DIFF7 DIFF8 NEUTRAL CONFH CONFL