1 Correction to: Theory and Decision (2020) 88:595–607 https://doi.org/10.1007/s11238-019-09740-5
On page 599 in the original publication of the article, we state that
$$ \begin{aligned} u(A^{*} x_{10} ) > u(A^{*} x_{51} ) \hfill \\ u(A^{*} x_{21} ) > u(A^{*} x_{52} ) \hfill \\ u(A^{*} x_{32} ) > u(A^{*} x_{53} ) \hfill \\ u(A^{*} x_{43} ) > u(A^{*} x_{54} ) \hfill \\ \end{aligned} $$
This is a typo: the inequality sign is incorrect. For example, according to Preference P1, \( x_{10} > x_{51} \). So \( A^{*} x_{10} \) means being alive with a larger debt than in \( A^{*} x_{51} \). So, by Preference P2, \( u(A^{*} x_{51} ) > u(A^{*} x_{10} ) \). The same argument should hold for the other inequalities. So, we should have:
$$ \begin{aligned} u(A^{*} x_{10} ) < u(A^{*} x_{51} ) \hfill \\ u(A^{*} x_{21} ) < u(A^{*} x_{52} ) \hfill \\ u(A^{*} x_{32} ) < u(A^{*} x_{53} ) \hfill \\ u(A^{*} x_{43} ) < u(A^{*} x_{54} ) \hfill \\ \end{aligned} $$
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The specific utilities in the paper were constructed using these correct inequalities, so there is nothing wrong in the numbers. We apologize for any confusions from this typo.
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