The definition of moral conviction suggests that morally convicted individuals have a bifurcated view of political issues: policies are deemed either (a) morally right or (b) morally wrong. Moral attitudes do not lend themselves to middle of the road evaluations of policies, such as the...

Many of the complex problems faced by decision makers involve uncertainty as well as multiple conflicting objectives. This book provides a complete understanding of the types of objective functions that should be used in multiattribute decision making. By using tools such as preference, value,...

This paper proves that the additive representation of Dekel-Lipman-Rustichini (2001) is consistent with any preference relation among the deterministic alternatives in their model. The result yields an additive representation which relaxes both the monotonicity and ordinal sub-modularity axioms...

In [1], it was shown that in games of perfect information, common knowledge of rationality entails that the backward induction outcome is reached, and is consistent (for short, entails BI). That work has been criticized because it assumes that a player chooses rationally at all his nodes, even...

This paper presents a new model of time-additive consumption-wealth utility. Like recursive utility, this model separates the roles of risk aversion and the intertemporal elasticity of consumption allowing it to be calibrated to a wider variety of data. Indeed, the observed equity premium and...

We show that if an agent is uncertain about the precise form of his utility function, his actual relative risk aversion may depend on wealth even if he knows his utility function lies in the class of constant relative risk aversion (CRRA) utility functions. We illustrate the consequences of this...

We characterize a new quasi-ordering on the collection of opportunity (or choice) sets. This new rule combines two criteria: the individual preferences on the universal set of options and the number of maximal options in the opportunity set. This new rule is compared with the indirect utility...

There is a large literature estimating Arrow-Pratt coefficients of absolute and relative risk aversion. A striking feature of this literature is the very wide variation in the reported estimates of the coefficients. While there are often legitimate reasons for these differences in the estimates,...

We present a survey design that generalizes static conjoint experiments to elicit inter-temporal adoption decisions for durable goods. We show that consumers' utility and discount functions in a dynamic discrete choice model are jointly identified using data generated by this specific design. In...