This paper presents an axiomatic model of probabilistic choice under risk. In this model, when it comes to choosing one …

theory such as the fourfold pattern of risk attitudes, the discrepancy between certainty equivalent and probability …

Economic research offers two traditional ways of analyzing decision making under risk. One option is to compare the …

literature on the role of landscape amenities in local economic change. Following common amenity definitions, we define landscape … amenities as landscape features that are location-specific, latent non-market input goods that directly enter residents’ utility …-country migrants were attracted by amenities about as frequently as by a low tax burden. Effects of amenities on employment and income …

materialize over time. Because risk and delay often arise simultaneously, theories of decision making should be capable of … explaining how behavior under risk and over time interacts. There is, in fact, a growing body of evidence indicating important … interactions between behaviorally revealed risk tolerance and patience. Risk taking behavior is delay dependent, and time …