We propose a novel utility representation for preferences over risky timed outcomes. The weighted temporal utility … model generalizes many well known utility functions for intertemporal decision making under risk. A decision maker with a … weighted temporal utility function can have time consistent yet non-stationary preferences or stationary yet time inconsistent …

An expected utility based cost-benefit analysis is in general fragile to its distributional assumptions. We derive … necessary and sufficient conditions on the utility function of the expected utility model to avoid this. The conditions ensure … that expected (marginal) utility remains finite also under heavy-tailed distributional assumptions. Our results are context …

-down" model of executive optimization. Others, like salience theory, assume a "bottom-up" influence where attention is driven by … understanding of their relative importance. We propose a multi-attribute random utility model that unifies prior theoretical … aversion. We discuss the insights regarding the nature of attention and its role in economic theory. …