Commodity currency literature recently stressed the importance of commodity prices as a determinant of real exchange rates in developing countries (Cashin, Cespedes and Sahay 2004). We provide new empirical evidence on this issue by focusing on countries which are specialized in the ex-port of...

This survey paper prepared for the Handbook of Utility Theory covers the axiomatic foundation of decision making under uncertainty when conditional preferences are allowed to be state dependent, leading to an expected state-dependent utility representation.