{"state_type":"pith_open_graph_state","state_version":"1.0","pith_number":"pith:2013:X6EAXZQP64JEQKP4WDFUC5MJM6","merge_version":"pith-open-graph-merge-v1","event_count":2,"valid_event_count":2,"invalid_event_count":0,"equivocation_count":0,"current":{"canonical_record":{"metadata":{"abstract_canon_sha256":"00e3104b9cca37c74fd5ffe9c3678a6a8de7c842280df29afcdbd6e35ebf0db2","cross_cats_sorted":["q-fin.RM"],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.PM","submitted_at":"2013-02-19T17:10:17Z","title_canon_sha256":"3bb12ea815b9907cb579eba21d214dcc0a178a756de13b134241dfc4a6053a12"},"schema_version":"1.0","source":{"id":"1302.4679","kind":"arxiv","version":3}},"source_aliases":[{"alias_kind":"arxiv","alias_value":"1302.4679","created_at":"2026-05-18T03:00:37Z"},{"alias_kind":"arxiv_version","alias_value":"1302.4679v3","created_at":"2026-05-18T03:00:37Z"},{"alias_kind":"doi","alias_value":"10.48550/arxiv.1302.4679","created_at":"2026-05-18T03:00:37Z"},{"alias_kind":"pith_short_12","alias_value":"X6EAXZQP64JE","created_at":"2026-05-18T12:28:06Z"},{"alias_kind":"pith_short_16","alias_value":"X6EAXZQP64JEQKP4","created_at":"2026-05-18T12:28:06Z"},{"alias_kind":"pith_short_8","alias_value":"X6EAXZQP","created_at":"2026-05-18T12:28:06Z"}],"graph_snapshots":[{"event_id":"sha256:16f8c63b56ecc3f263b975770efdd2fc8c82df0ca368d089b08f57ef4fdd3ca7","target":"graph","created_at":"2026-05-18T03:00:37Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"graph_snapshot":{"author_claims":{"count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57","strong_count":0},"builder_version":"pith-number-builder-2026-05-17-v1","claims":{"count":0,"items":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"formal_canon":{"evidence_count":0,"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"paper":{"abstract_excerpt":"Assuming that agents' preferences satisfy first-order stochastic dominance, we show how the Expected Utility paradigm can rationalize all optimal investment choices: the optimal investment strategy in any behavioral law-invariant (state-independent) setting corresponds to the optimum for an expected utility maximizer with an explicitly derived concave non-decreasing utility function. This result enables us to infer the utility and risk aversion of agents from their investment choice in a non-parametric way. We relate the property of decreasing absolute risk aversion (DARA) to distributional pr","authors_text":"Carole Bernard, Jit Seng Chen, Steven Vanduffel","cross_cats":["q-fin.RM"],"headline":"","license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.PM","submitted_at":"2013-02-19T17:10:17Z","title":"Rationalizing Investors Choice"},"references":{"count":0,"internal_anchors":0,"resolved_work":0,"sample":[],"snapshot_sha256":"258153158e38e3291e3d48162225fcdb2d5a3ed65a07baac614ab91432fd4f57"},"source":{"id":"1302.4679","kind":"arxiv","version":3},"verdict":{"created_at":null,"id":null,"model_set":{},"one_line_summary":"","pipeline_version":null,"pith_extraction_headline":"","strongest_claim":"","weakest_assumption":""}},"verdict_id":null}}],"author_attestations":[],"timestamp_anchors":[],"storage_attestations":[],"citation_signatures":[],"replication_records":[],"corrections":[],"mirror_hints":[],"record_created":{"event_id":"sha256:d557c861d827472fe536a9f65bf2d0b52a440682602489f15b3b3a214dbd2323","target":"record","created_at":"2026-05-18T03:00:37Z","signer":{"key_id":"pith-v1-2026-05","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","signer_id":"pith.science","signer_type":"pith_registry"},"payload":{"attestation_state":"computed","canonical_record":{"metadata":{"abstract_canon_sha256":"00e3104b9cca37c74fd5ffe9c3678a6a8de7c842280df29afcdbd6e35ebf0db2","cross_cats_sorted":["q-fin.RM"],"license":"http://arxiv.org/licenses/nonexclusive-distrib/1.0/","primary_cat":"q-fin.PM","submitted_at":"2013-02-19T17:10:17Z","title_canon_sha256":"3bb12ea815b9907cb579eba21d214dcc0a178a756de13b134241dfc4a6053a12"},"schema_version":"1.0","source":{"id":"1302.4679","kind":"arxiv","version":3}},"canonical_sha256":"bf880be60ff7124829fcb0cb417589678cb468ceadd1c2e0e5e61fefaa874c1f","receipt":{"algorithm":"ed25519","builder_version":"pith-number-builder-2026-05-17-v1","canonical_sha256":"bf880be60ff7124829fcb0cb417589678cb468ceadd1c2e0e5e61fefaa874c1f","first_computed_at":"2026-05-18T03:00:37.396099Z","key_id":"pith-v1-2026-05","kind":"pith_receipt","last_reissued_at":"2026-05-18T03:00:37.396099Z","public_key_fingerprint":"8d4b5ee74e4693bcd1df2446408b0d54","receipt_version":"0.3","signature_b64":"pzkHvwVXixZjocsGbpqmDF/PKBY2h9opdfnBmEP7PGi9Ft1g5aBxaimuSQcZF0DlK9qhFKQmmZJtEbbFv6CxAQ==","signature_status":"signed_v1","signed_at":"2026-05-18T03:00:37.396820Z","signed_message":"canonical_sha256_bytes"},"source_id":"1302.4679","source_kind":"arxiv","source_version":3}}},"equivocations":[],"invalid_events":[],"applied_event_ids":["sha256:d557c861d827472fe536a9f65bf2d0b52a440682602489f15b3b3a214dbd2323","sha256:16f8c63b56ecc3f263b975770efdd2fc8c82df0ca368d089b08f57ef4fdd3ca7"],"state_sha256":"6f66fcabaffc9961f455aaaec22a6c433085a39f81aa9367bbd08cea8feb2d06"}