This paper provides a state-dependent extension of Savage's expected utility when outcomes are real-valued (money, distance, etc.) and utility is increasing (or, equivalently, the "loss function" is decreasing). The first novelty concerns the very definition of the functional, which is not an...

The present paper combines loss attitudes and linear utility by providing an axiomatic analysis of cumulative prospect theory (CPT) in the framework for decision under uncertainty. We derive a two-sided variant of Choquet expected utility (CEU) with possibly different capacities for gains and...

The validity of the axiomatization of the Harsanyi solution for NTU-games by Hart (1985) is shown to depend on the regularity conditions imposed on games. Following this observation, we propose two related axiomatic characterizations, one of the symmetric egalitarian solution (Kalai and Samet,...