This paper presents a procedure designed to aid physicians and patients in the process of making medical decisions, and illustrates its implementation to aid pregnant women, who decided to undergo prenatal diagnostic test choose a physician to administer it. The procedure is based on a medical...

This paper extends the work of Karni (Econ Theory 48:125–146, <CitationRef CitationID="CR3">2011</CitationRef>) to allow for the possibility that decision makers’ effect-dependent risk attitudes are also affected by their actions. This extension is essential for modeling decision situations in which actions have a monetary dimension...</citationref>

This paper presents a complete, choice-based, axiomatic Bayesian decision theory. It introduces a new choice set consisting of information-contingent plans for choosing actions and bets and subjective expected utility model with effect-dependent utility functions and action-dependent subjective...

A non-trivial, transitive and reflexive binary relation on the set of lotteries satisfying independence that also satisfies any two of the following three axioms satisfies the third: completeness, Archimedean and mixture continuity (Dubra, 2011). This paper generalizes Dubra’s result in two...

Analyzing the optimal bidding behavior in ascending-bid auctions and second-price, sealed-bid auctions with independent private values, the authors show that expected utility maximizing behavior is equivalent to (1) dynamically consistent bidding in ascending-bid auctions; (2) the equivalence of...