We present a preference foundation for Chance Theory (CT), a model of decision making under uncertainty where the … and the potential increments over it are evaluated by subjective expected utility with a risky utility function u. In … contrast to earlier approaches with models that aimed at separating riskless and risky utility, CT does not violate basic …

model generalizes many well known utility functions for intertemporal decision making under risk. A decision maker with a … weighted temporal utility function can have time consistent yet non-stationary preferences or stationary yet time inconsistent …We propose a novel utility representation for preferences over risky timed outcomes. The weighted temporal utility …

value elicitation exercises such as risk, time (Bansback et al. 2012) and numbers treated (Robinson et al, 2010). Flynn … allow utility values to be derived at the individual level also. The DCE presented respondents with eight pairwise risky … choices to estimate aggregate utility values for three EQ-5D health states, ranging from mild to severe. The design allowed …

evaluation for two or more different prospects with the same expected utility value. As a consequence, a rational decision maker … evaluation process of decision makers and explicitly assumed in the stochastic choice literature. We introduce the concepts of … an ordinal one, when defining suitable approximations to expected utility values. Contrary to the standard literature …

The mean-variance utility postulates that random variables with the same mean and variance should be equally desirable …-variance utility in which any condition on variances but mean-values is not explicitly specified. Furthermore, we investigate necessary … and sufficient axioms for four types of additively separable forms of mean and variance in the utility representation …

decision maker is a fully rational expected utility maximizer only within a certain range. Range-dependent utility enables …-dependent utilities can be normalized to obtain decision utility -- a single utility function able to describe decisions involving … indicate that the decision utility should be of S-shape …

Geometric utility theory is proposed for modeling decision making under risk and uncertainty. If a decision maker … they admit a geometric utility representation. Geometric utility resembles a Cobb-Douglas production function with constant … returns to scale. Geometric utility is unique up to a multiplication by a positive constant and exponentiation by a positive …

A three-dimension analytical framework for decision under risk is presented, in which preference is defined as a … except that the independence axiom is assumed only for the valuation of utility-reward (u) and disutility-risk (d), compound … utility theory (CUT) is developed that represents reference-dependent preferences in a straightforward manner. As a simple …

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 …