-dimensional decision outcomes, economic theory assumes a uni-dimensional utility measure. This paper reviews evidence from behavioral and … makers' difficulties can be explained once the motivational aspects of utility (wanting) are disentangled from the …

This paper derives a representation of preferences for a choice theory with vague environments; vague in the sense that … of these lotteries for each state. Thus, this paper's main departure from the standard subjective expected utility model … utility models and the behavior implied by the multiple priors models. …

a backward stochastic differential equation and incorporates preference for the local risk of the stochastic utility … stochastic differential formulation of intertemporal recursive utility. The present class of utility functionals is generated by …

In economic theory, utility depends on past, present and future outcomes. The experiment described in this paper … suggests that utility also depends on people's attitudes, and that it can easily be manipulated through these attitudes. The … results imply, first, that purely outcome-based models of individual utility may be incomplete. Second, that reference …

The concept of utility is often used in ambiguous ways in economics, from having substantive psychological connotations … conceive of utility. It turns out that empirical evidence does not favor a view of multidimensional utility. This does not … eliminate the possibility to make a normative argument supporting a multidimensional notion of utility. …

This paper discusses methods to quantify risk and uncertainty in macroeconomic forecasts. Both, parametric and non … macroeconometric model of the Bundesbank for Germany. Forecast intervals that integrate judgement on risk and uncertainty are obtained. …