utility is modified by discounting the market price and marginal utility of the addictive commodity by the probability of …

measures of outcomes of choice in terms of overall utility or life satisfaction. Here we model the relationship between values …

total or transitive. This means that most of the economic theory based on additive preferences - expected utility …, discounted utility - has been generalized to preferences which are not total or transitive. Other economic applications of the …

's aspirations? In a direct empirical test, it is found that higher income aspirations reduce people's utility, ceteris paribus …. Individual data on reported satisfaction with life are used as a proxy measure for utility, and income evaluation measures are …

effect through the actions taken. I present a model that incorporates beliefs into an agent's utility function. The paper … provides axiomatic foundations for a special class of non-additive utility indices defined over infinite streams of beliefs and … satisfying these assumptions admit a generalized discounted utility representation in which all terms depend on both actions and …