A number of authors have suggested that investors derive utility from realizing gains and losses on assets that they … own. We present a model of this "realization utility," analyze its predictions, and show that it can shed light on a …

because of inconsistencies in revealed preferences across behavioral frames. We adapt theories of expected utility …

affects utility financing choices both by conditioning the environment in which these choices are made and by creating …'s decisions. The direction of the impact on utility financing, therefore, may differ both over time and across regulatory ….S. electric utilities from 1912 to 1979. Evidence of a regulatory effect on utility financing is found particularly for the early …

functional forms of demand that this property implies when demand is rational, i.e., derived from utility maximization … indirect utility as an additional aggregator. We provide examples and applications which encompass a large variety of examples …

' choices. Because social recognition generates utility from esteem to some but disutility from shame to others, it can be … either positive-sum, zero-sum, or negative-sum. This depends on whether the social recognition utility function is convex … find that the social recognition utility function is significantly concave and thus generates deadweight loss. If our …

present paper evaluates these approaches, comparing the CES gains to those obtained using a quadratic utility function using … than those obtained using the quadratic utility function …

wealth into the utility function; the justification is that wealth is a marker of social status, and people value status …. Since people partly save to accrue social status, the Euler equation is modified. As a result, when the marginal utility of …