expected utility (GEU) to the diversification of agents who maximize the conventional expected utility (EU). Specifically, we … derive the patterns of diversification for agents who maximize a rank-dependent' expected utility, attaching more weight to … bad' than to good' outcomes, in contrast to the probability weights used in a conventional expected utility maximization …

observed behaviors of the poor. Temptation goods are defined to be the set of goods that generate positive utility for the self …

The possibility that individuals may derive utility from the mere fact of holding wealth has long been recognized. A … simple intertemporal model featuring utility from accumulation is used here to examine consumption and savings, the choice … utility from accumulation helps to explain a number of empirical regularities that otherwise seem inconsistent with optimizing …

-Expected Utility theories, we strongly reject Prospect Theory probability weighting, we support disappointment aversion if amended to …There is convincing experimental evidence that Expected Utility fails, but when does it fail, how severely, and for … Expected Utility performs well away from certainty, but fails near certainty for about 40% of subjects. Comparing non …