). Decision Utility Theory proposes straightforward risk measures, presents a simple explanation of risk attitudes by using the …. Decision Utility Theory presents an alternative solution, which makes no use of this concept. The new theory distinguishes … (1952), and applies the expected decision utility value similarly to the theory by von Neumann and Morgenstern (1944 …

are adapted to recurrent situations. We show that expected utility under perceived repeated risk can explain the common … sensitive to probabilities. The leading explanation of this effect is prospect theory and its nonlinear weights applied to … probabilities. We propose an alternative explanation: expected utility under the perception that one-shot risks will be repeated. We …

. Decision Utility Theory presents an alternative solution, which makes no use of this concept. The new theory postulates a … double S-shaped decision utility curve similar to the one hypothesized by Markowitz (1952), and applies the expected decision … utility value similarly to the theory of von Neumann and Morgenstern (1944). This work is a PhD dissertation; it contains …

We establish a convergence theorem that shows that discrete-time recursive utility, as developed by Kreps and Porteus … (1978), converges to stochastic di erential utility, as introduced by Du e and Epstein (1992), in the continuous-time limit …