Color is ubiquitous. Our study appears to be the first to investigate the impact of color on decision making in a laboratory setting using a randomized control design. We find differences in the influence of red, yellow, green, and blue along with white primarily in social decision making rather...

Hope is experienced when there is enjoyment in delaying the resolution of uncertainty. The main objective of this article is to identify the phenomenon of hope. In addition, we empirically test several axiomatic theories of temporal preferences which have implications for attitudes toward the...

A new axiom for preference orderings over lotteries, called the projective independence axiom, is formulated. Given suitable continuity and monotonicity assumptions, the axiom implies that utility is either in the weighted utility class or is quadratic in probabilities. The betweeness axiom is...

Few papers in the literature on inequality measurement deal with uncertainty, particularly when the ranking of cohorts may not be fixed. We present a set of axioms implying such a class of inequality measures under uncertainty that is a one-parameter extension of the generalized Gini mean over...

This paper is concerned with the phenomenon of preference for timing in the temporal resolution of uncertainty and its implications for the structure of utility functionals defined on multiperiod consumption programs. Several postulates concerning attitudes towards timing are stated using a new...