In the simple Allingham-Sandmo portfolio model of tax evasion an expected utility maximizer will cheat more than what … payers act according to some non-expected utility theory, and (2) Individual ethical norms and social stigma induce people … subjective probabilities of being penalised according to the rank dependent utility theory, and (2) Tax payers' beliefs about …

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 …

We show that if an agent is uncertain about the precise form of his utility function, his actual relative risk aversion … may depend on wealth even if he knows his utility function lies in the class of constant relative risk aversion (CRRA …) utility functions. We illustrate the consequences of this result for asset allocation: poor agents that are uncertain about …

us to ask whether standard classes of utility functions, such as those inspired by Kihlstrom and Mirman [15], Selden [26 …

We derive a class of utility functions that are equivalent with respect to a well-defined functional form. We apply a …

We show that if an agent is uncertain about the precise form of his utility function, his actual relative risk aversion … may depend on wealth even if he knows his utility function lies in the class of constant relative risk aversion (CRRA …) utility functions. We illustrate the consequences of this result for asset allocation: poor agents that are uncertain about …

This paper deals with utility (or value) function for reference dependent models. A new characterization of S …-shaped utility functions displaying loss aversion is put forward. Then it is used to analyze some standard forms commonly used in the …-shaped utility functions exhibiting loss aversion are presented. -- reference dependence utility ; loss aversion …

This note proposes the Burr utility function. Burr utility is a flexible two-parameter family that behaves … avoids the extreme behavior of the power family near the origin. We show how to characterize Burr utility as a special case … in the general class of utility functions with non-increasing and convex absolute risk aversion, and non-decreasing and …

We show that if an agent is uncertain about the precise form of his utility function, his actual relative risk aversion … may depend on wealth even if he knows his utility function lies in the class of constant relative risk aversion (CRRA …) utility functions. We illustrate the consequences of this result for asset allocation: poor agents that are uncertain about …

and convex function, while Morgenstern utility functions (applying to risk averse decision makers) are nondecreasing and … utility function. If we derive the generator itself in this way, dependence properties of an Archimedean copula that are often … taken to be desirable, match with generally sought after properties of the corresponding utility function. If, on the other …