form obtains if relative choice probabilities are independent of irrelevant alternatives and invariant to utility …

We propose a class of multiple-prior representations of preferences under ambiguity where the belief the decision … positive ambiguity attitudes documented in experiments. We prove that our baseline representation, Boolean expected utility … Marinacci, 2004), which drops uncertainty aversion from maxmin expected utility (Gilboa and Schmeidler, 1989), while extensions …

We design and implement a novel experimental test of subjective expected utility theory and its generalizations. Our … sample of the US population. We find that a majority of subjects’ choices are consistent with maximization of some utility … function, but not with subjective utility theory. The theory is tested by gauging how subjects respond to price changes. A …

model is a feedback loop between experienced utility, decision utility, and activities. In applications of the model, I show … remedy for these shortcomings by developing a dynamical model of procedurally rational decision making. The basic idea of the …

As technology-assisted decision-making is becoming more widespread, it is important to understand how the algorithmic … study the preference for human or algorithmic decision makers in re-distributive decisions. In particular, we consider … whether algorithmic decision maker will be preferred because of its unbiasedness. Contrary to previous findings, the majority …