with David Dillenberger
Economics Letters, 120(3): 596-598
Year: 2013

Dillenberger (2010) introduced the negative certainty independence (NCI) axiom, which captures the certainty effect phenomenon. He left open the question of whether there are continuous and monotone preference relations over simple lotteries that satisfy NCI but do not belong to the betweenness class of preferences considered by Chew (1989) and Dekel (1986). We answer this question in the affirmative.