prices can be measured through the context of the indirect utility function (IUF) using a lab experiment. First, the paper … in the mainstream of experimental economics. Indeed, the DT in modern microeconomics indicates that the direct utility … under the expected utility theory (EUT) are somewhat subject to context. Other findings imply that the risk premium (RP), as …

We characterize optimal consumption policies in a recursive intertemporal utility framework with local substitution. We …

Utility tokens are digital currencies that serve as the only accepted means of payment for services and products …’s issuance, distribution, allocation, and potential destruction. The chapter describes utility tokens, compares them with other … tokenomic designs, discusses different regulatory approaches, and provides examples of current utility token applications in …

We present a novel characterization of random rank-dependent expected utility for finite datasets and finite prizes. As … a byproduct, we obtain a characterization of random expected utility that works for finite datasets. The test lends … itself to statistical testing. We apply our test to an experimental dataset and find evidence against random expected utility …