. Decision Utility Theory presents an alternative solution, which makes no use of this concept. The new theory distinguishes … decision and perception utility, postulates a double S-shaped decision utility curve similar to one hypothesized by Markowitz … (1952), and applies the expected decision utility value similarly to the theory by von Neumann and Morgenstern (1944 …

-parameter generalization of expected utility theory. The proposed theory assumes that a decision maker: 1) behaves as if maximizing expected …This paper presents a new decision theory for modelling choice under risk. The new theory is a two … utility; but 2) may experience disappointment (elation) when the utility of a lottery's outcome falls short of (exceeds) the …

We investigate the possibility that a decision-maker prefers to avoid making a decision and instead delegates it to an …, which contradicts most theories of choice such as expected utility but is consistent with a theory of responsibility …

prompted to abandon her prior. However, potential posteriors may induce her to take actions that generate a lower utility in … posteriors lead to larger utility than the prior. In choosing her belief, the agent optimally trades off these psychological … are information seeking otherwise. Because belief updating depends on the decision problem in which new information is …

by many theories of choice and implies that the decision-maker prefers receiving the best outcome for sure over all … treatments where decision-makers are asked to submit multiple decisions without knowing which one is relevant, many participants … decision. A large data set on (high-stake) university applications in Germany shows patterns that are consistent with a …

exist in decision making. The study also tries to recognize the prime factors responsible for directing the consumer …’s purchasing decision towards the commodity. The study finds out that the Behavioural traits influence the decision-making approach … while purchasing the commodity and how prominent factors direct the consumer decision …

more general dichotomous problems. Our results with loss aversion utility show that a slightly optimistic (or pessimistic …