calc_eu_choice: Helper function that returns TRUE if expected utility...

In dylan-turner25/RPadjust: What the Package Does (One Line, Title Case)

Description

Helper function that returns TRUE if expected utility suggests the same lottery choice that was choosen by the survey respondent.

Usage

calc_eu_choice(
  r,
  lottery_probs_1,
  initial_wealth,
  lottery_payoffs_1,
  lottery_probs_2,
  lottery_payoffs_2,
  lottery_choice
)

Arguments

r	a numerical value representing the risk preference parameter to test
lottery_probs_1	a numerical vector representing the probabilities of the first outcome occurring in each lottery
initial_wealth	a numerical value representing the initial wealth to use for each respondent
lottery_payoffs_1	a numerical vector representing the payoffs if the first outcome occurs in each lottery
lottery_probs_2	a numerical vector representing the probabilities of the second outcome occurring in each lottery
lottery_payoffs_2	a numerical vector representing the payoffs if the second outcome occurs in each lottery
lottery_choice	a numeric value representing the observed lottery choice of the survey respondent

dylan-turner25/RPadjust documentation built on Dec. 20, 2021, 2:17 a.m.