We present a preference foundation for Chance Theory (CT), a model of decision making under uncertainty where the … 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 …

A three-dimension analytical framework for decision under risk is presented, in which preference is defined as a … except that the independence axiom is assumed only for the valuation of utility-reward (u) and disutility-risk (d), compound … utility theory (CUT) is developed that represents reference-dependent preferences in a straightforward manner. As a simple …