In this paper we show that decision makers who maximize expected utility on a two-dimensional set of the real numbers … (i.e., who maximize expected utility on R×R) rather than on the real numbers alone, can act in ways predicted by the … Allais in his original 1953 paper can be explained by the extended expected utility model that is described in this paper …

and 1985 within the framework provided by expected utility theory (EUT). It is shown that this history displays a definite …The paper reconstructs the history of the experimental attempts to measure the cardinal utility of money between 1950 … trajectory: from the confidence in EUT and the EUT-based measurement of utility of the 1950s to the skepticism that, from the mid …

-down" model of executive optimization. Others, like salience theory, assume a "bottom-up" influence where attention is driven by … understanding of their relative importance. We propose a multi-attribute random utility model that unifies prior theoretical …-specific and decisionspecific variation in attention and verify our framework in an eye-tracking experiment on risky choice. We …