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 …

We show that if an agent is uncertain about the precise form of his utility function, his actual relative risk aversion … may depend on wealth even if he knows his utility function lies in the class of constant relative risk aversion (CRRA …) utility functions. We illustrate the consequences of this result for asset allocation: poor agents that are uncertain about …

understanding of their relative importance. We propose a multi-attribute random utility model that unifies prior theoretical …

utility. Using the fact that networks form a special class of cooperative TU-games, we provide a foundation for the degree … measure as a von Neumann-Morgenstern expected utility function reflecting preferences over being in different positions in … represented by a utility function that is a multiple of the degree centrality measure. We show this in three steps. First, we …

Given the possibility to modify the probability of a loss, will a profit-maximizing insurer engage in loss prevention … expected profit maximizing loss probability within an expected utility framework. We then use Köszegi and Rabin's (2006, 2007 … engage in loss prevention activities, this to the benefit of consumers. Our results show that one should be cautious in doing …

from mental health issues. This paper studies the labor market and mental health effects of an activation program targeting …-in-differences design. We find that the activation program hardly affects labor market outcomes. However, for those on mental health … medication prior to the start of the program, the use of mental health medication substantially drops in the years following the …

This study analyses the relation between perceived health status and intertemporal choice. We use data from experiments … differences in anticipated future marginal utility increases and price in these factors when calculating pure rates of time …