The predictions of expected utility theory (EUT) applied to tax evasion are flawed on two counts: (i) They are … prospect theory. Sanjit Dhami Ali al-Nowaihiy 27 September 2007 Abstract The predictions of expected utility theory (EUT … liberalism versus paternalism in behavioral economics. Keywords: Prospect theory, Expected utility theory, Tax evasion, Optimal …

, biased Bayesian learning within the framework of Choquet expected utility theory. As a key feature of our approach the …

Utility Theory (EUT). It is used to account for a number of anomalies in the observed behavior of economic agents. Like EUT …Cumulative Prospect Theory (CPT) has been used in a wide variety of economic models as an alternative to Expected …

expected utility theory (EUT). Bernoulli’s work is taken up by psychophysics which in turn plays an important role in the …

It is here shown that the extension of expected utility theory to multiple periods destroys the axiomatic base by …

12. Key words: Expected utility theory, relative risk premium, preferences on lotteries. 1 Introduction In the theory of …-utility theories. Journal of risk and uncertainty, 17:121–137, 1998. [9] M. Rabin. Risk aversion and expected-utility theory: A …

Utility Theory. It does not contradict Expected Utility, but includes it as a special example. A very useful example, because …The purpose of this paper is to demonstrate that Cumulative Prospect Theory is a serious alternative for Expected …

predictions of expected utility theory versus prospect theory using lotteries with large stakes. While expected utility theory …