Many decision situations involve two or more of the following divergences from subjective expected utility: imprecision … of beliefs (or ambiguity), imprecision of tastes (or multi-utility), and state dependence of utility. Examples include … phenomena, as well as state-dependent multi-utility generalisations of popular ambiguity models …

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 …

I provide a novel simplified approach to Savage's theory of subjective expected utility. Such an approach is based on … results can be used to easily obtain variations on Savage's theorem, such as representations with state-dependent utility or …

-Expected Utility theories, we strongly reject Prospect Theory probability weighting, we support disappointment aversion if amended to …There is convincing experimental evidence that Expected Utility fails, but when does it fail, how severely, and for … Expected Utility performs well away from certainty, but fails near certainty for about 40% of subjects. Comparing non …