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consumption have direct utility-consequences. This gives rise to informational preferences, i.e., preferences over the timing and …
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incorporating (the level of) absolute wealth in the individual's utility function. …
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Risk and time are intertwined. The present is known while the future is inherently risky. Discounted expected utility … robust violations of discounted expected utility, inconsistent with both prospect theory probability weighting and models …
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-pecuniary component of utility associated with each choice alternative. Previous work has found that, without parametric restrictions or …-pecuniary component of utility associated with each choice alternative. We develop nonparametric estimators corresponding to two …
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