This article compares classical expected utility (EU) with the more general rank-dependent utility (RDU) models. The …

with regret about having saved too little for retirement. We provide an overview of four discounted utility models and … decision making, and some also feature backward discounting in order to generate regret about past saving decisions. In our …

', SWB has recently been compared to 'decision utility' using specific experiments, most often based on stated preferences …Subjective well-being (SWB) data is increasingly used to perform welfare analyses. Interpreted as 'experienced utility …

The Allais critique of expected utility theory (EUT) has led to the development of theories of choice under risk that …

-parameter generalization of expected utility theory. The proposed theory assumes that a decision maker: 1) behaves as if maximizing expected …This paper presents a new decision theory for modelling choice under risk. The new theory is a two … rank-dependent utility and cumulative prospect theory); and preference reversals between valuations and choice. Behavioral …