Maximising expected value is the classic doctrine in choice theory under empirical uncertainty, and a prominent … in ethics and aggregation theory under uncertainty. We analyse the spectrum of expectational theories, showing that they … reach diverging evaluations, use different modes of reasoning, take different attitudes to normative risk as well as …

In this paper we present a dynamic discrete-time model that allows to investigate the impact of risk-aversion in an …-time limit of our model with no uncertainty and no risk-aversion. Focusing on the continuous-time limit of the infinite horizon … inversely related to the degrees of uncertainty and risk-aversion. However, the effect of uncertainty and risk …