develop some properties for the ADSD theory, including properties of expected-utility maximization, hierarchy, transitivity … Tan (2005) to use two-way stochastic dominance to define the $j$-order risk-averse and risk-seeking utility that consists … of both risk-averse and risk-seeking components and we call the utility AD utility and call investors with AD utility AD …

null hypothesis of subjective expected utility for a majority of subjects. Most of the remaining subjects exhibit …

This paper studies consumption-portfolio decisions with recursive utility on a finite time horizon. We postulate … with time-additive utility is both quantitatively and qualitatively a poor measure of the relative strength of bequest. To …