In economic theory, utility depends on past, present and future outcomes. The experiment described in this paper … suggests that utility also depends on people's attitudes, and that it can easily be manipulated through these attitudes. The … results imply, first, that purely outcome-based models of individual utility may be incomplete. Second, that reference …

account for both risky and intertemporal choices, and under the conditions of their experiment, found evidence supporting it … reason to be sceptical is that the experiment was not properly powered up; the no-difference results reported by the authors …

almost half of our subjects. Among those, roughly 24% are rational expected utility maximizers, 24% make occasional mistakes …

This paper examines the effects of alternative assumptions regarding the curvature of utility upon estimated discount … the Holt and Laury method for risk. The results demonstrate that utility elicited directly from choice over time is … significantly concave, but far closer to linear than utility elicited under risk. As a result, the effect of adjusting discount …

almost half of our subjects. Among those, roughly 24%are rational expected utility maximizers, 24% make occasional mistakes …

utility. …

This paper examines the effects of alternative assumptions regarding the curvature of utility upon estimated discount … the Holt and Laury method for risk. The results demonstrate that utility elicited directly from choice over time is … significantly concave, but far closer to linear than utility elicited under risk. As a result, the effect of adjusting discount …

experiment with 743 subjects whether small-scale, seemingly negligible, events also affect the formation of risk preferences. In … second lottery almost a year later. The same pattern emerges in another experiment with 136 subjects where the second lottery …