Is "generic utility theory" a suitable theory of choice behavior for gambles with mixed gains and losses?

Miyamoto's (1988, 1992) generic utility theory (GUT) subsumes a broad class of bilinear utility models. Chechile and Cooke (1997) tested the GUT class of models and found model failure due to the systematic variation of a par ameter that should be a positive constant across a range of contexts. In th e current study, an improved experimental design is employed to evaluate ut ility theory. The current study provides further evidence against the GUT c lass of models for mixed gambles. Moreover, evidence is also provided to de monstrate individual behavior that is incompatible with a coherent bilinear utility theory of choice behavior in the context of mixed gambles with gai ns and losses.