A large body of experimental research has demonstrated that, on average, people violate the axioms of expected utility … theory as well as of discounted utility theory. In particular, aggregate behavior is best characterized by probability …

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 …

used to test the predictions of ten decision theories: risk neutrality, expected utility theory, fanning-out hypothesis … (weighted utility theory, transitive skew-symmetric bilinear utility theory), (cumulative) prospect theory, regret theory, rank …-dependent expected utility theory, Yaari’s dual model, prospective reference theory and disappointment aversion theory. Assumptions of …

This study compares individual preferences across incentives (i.e., hypothetical vs. real incentives) and over time (i ….e. elicitation at two different points in time) in a choice experiment involving charitable donating decisions. We provide evidence …

whether the behavioral assumptions of the standard life cycle model with time separable preferences are empirically invalid … their efforts during working time. We document a large positive wage elasticity of overall labor supply and an even larger …

, individuals know what they choose. They are able to predict how much utility an activity or a good produces for them now and in … the future and they can maximize their utility. This implies that behavior reveals consistent preferences. This approach … misprediction of utility. We propose the economics of happiness as a methodological approach to study these phenomena. Based on …