Utility-free models of binomial choice can replicate predictions of utility models in many conditions (bibtex)
by Steven T. Piantadosi and B. Hayden
Reference:
Utility-free models of binomial choice can replicate predictions of utility models in many conditions (Steven T. Piantadosi and B. Hayden), In Frontiers in Neuroscience, 2015.
Bibtex Entry:
@article{piantadosi2014utility,
  title={Utility-free models of binomial choice can replicate predictions of utility models in many conditions},
  author={Steven T. Piantadosi and B. Hayden},
  journal={Frontiers in Neuroscience},
  year={2015},
  url={http://journal.frontiersin.org/article/10.3389/fnins.2015.00105/full},
  tags={modeling, neuroscience},
  eli5={You can make decisions which are equivalent to expected value decisions without ever computing expected value.}
}
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