Choquet expected utility preferences. A decision maker is faced with an information structure represented by a filtration. We …

We use a simple version of the Psychological Expected Utility Model (Caplin and Leahy, QJE, 2001) to analyze the …, the higher the efficiency of decision-making. We completely and explicitly characterize how anticipatory utility depends …

We propose a new decision criterion under risk in which people extract both utility from anticipatory feelings ex ante … raises both the utility of ex ante feelings and the risk of disappointment ex post. We characterize the optimal beliefs and … the decision maker takes on less risk compared to an expected utility maximizer. This speaks to the equity premium puzzle …

empirical performance of expected utility and the alternative nonexpected utility theories. The present paper performs a similar …

be reasonable accommodated by expected utility plus an error term. This conclusion implies that the violation rate of … expected utility should decrease if errors are excluded. The present paper presents an experiment which investigates this … be regarded as a more serious challenge of expected utility than the Allais paradox. More general, while expected utility …

empirical performance of expected utility and the alternative nonexpected utility theories. The present paper performs a similar …Diese Arbeit erweitert frühere Umfragen über den Nutzen der Technischen Analyse um die Flow Analyse als dritte Form der …

In the expected-utility theory of the monetary value of a statistical life, the so-called "dead-anyway" effect … risk increases with the initial level of risk. Their reasoning is based on differences in the marginal utility of wealth …

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. …