According to G. Becker, the expected utility model (EUM) is the most powerful social sciences can use. The main reason …

and the potential increments over it are evaluated by subjective expected utility with a risky utility function u. In … contrast to earlier approaches with models that aimed at separating riskless and risky utility, CT does not violate basic … irregularities like the expected utility paradoxes of Allais and Rabin, CT also separates risk attitude in the strong sense from …

for the risk-acceptance criterion to be consistent with the axiomatization of standard expected utility theory are also … consistent with the standard axiomatization of expected utility. Some illustrative examples are also provided. …

(L), where U(L) denotes the expected utility of lottery L, \rho \in [-1, 1] is a subjective constant, and r(L) is the mean … absolute (utility) semideviation of lottery L. The model comprises a linear trade-off between expected utility and utility …

used to test the predictions of ten decision theories: risk neutrality, expected utility theory, fanning-out hypothesis … (weighted utility theory, transitive skew-symmetric bilinear utility theory), (cumulative) prospect theory, regret theory, rank …-dependent expected utility theory, Yaari’s dual model, prospective reference theory and disappointment aversion theory. Assumptions of …

In this paper, we extend von Neumann and Morgenstern’s expected utility approach to a non-commutative probability … generalization of the expected utility theorem. Our generalization allows for decision makers to make an intuitive distinction … traditional expected utility theory (e.g., Allais paradox, etc.) to be solved or better understood. Copyright Springer-Verlag 2013 …