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 …

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 …

. Furthermore, we discuss how such a preference can be integrated in the modelling of utility in order to account for the …

We report a portfolio-choice experiment that enables us to estimate parametric models of ambiguity aversion at the … specification includes two parameters: one for ambiguity attitudes and another for risk attitudes. We also estimate a three … null hypothesis of subjective expected utility for a majority of subjects. Most of the remaining subjects exhibit …

may be sensitive to subtle details of the experimental design. -- Utility ; reference state ; attitudes ; priming …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 …

Are individuals always better off when their preferences can be represented by expected utility?I study this question …-run by expected utility maximisers with the share they would receive if their preferences were described by prospect theory … preferences instead when, in either case, they bargain with expected utility maximisers. I present a necessary and sufficient …

or indecisiveness between certain alternatives, and/or her willingness to experiment in the sense of occasionally …