The quasi-linear quadratic utility model is widely used in economics. The knowledge of its exact origin is less …

We propose a new measure of deviations from expected utility, given data on economic choices under risk and uncertainty … deviation (in beliefs, utility, or perceived prices) is within e of expected utility theory. The number e can then be used as a … are consistent with utility maximization, but not expected utility maximization. The correlation of our measure with …

We show how optimal saving in a two-period model is affected when prudence and risk aversion of the underlying utility …

temperance can be fully characterized by a preference relation over these lotteries. If preferences are defined in an expected-utility … framework with differentiable utility, the direction of preference for a particular class of lottery pairs is equivalent to … signing the nth derivative of the utility function. What makes our characterization appealing is its simplicity, which seems …

In the simple Allingham-Sandmo portfolio model of tax evasion an expected utility maximizer will cheat more than what … payers act according to some non-expected utility theory, and (2) Individual ethical norms and social stigma induce people … subjective probabilities of being penalised according to the rank dependent utility theory, and (2) Tax payers' beliefs about …

behavior of expected utility maximizers. Two types are characterized by high likelihood insensitivity; one of them is ambiguity …