-dimensional decision outcomes, economic theory assumes a uni-dimensional utility measure. This paper reviews evidence from behavioral and …Although decision makers are often reported to have difficulties in making comparisons between multi … brain sciences to assess whether, and for what reasons, this assumption may be warranted. It is claimed that the decision …

contrast, concavity of individual utility functions (representing convex preferences) turns out to be testable. In addition …

This paper develops a model of choice that embeds some psychological aspects affecting decision maker's behaviour. In … the model, the decision maker attaches an unobservable psychological index -representing, e.g., the level of perceived … availability or the level of salience- to each alternative in a universal collection. Choice behaviour of the decision maker is …

In the expected-utility theory of the monetary value of a statistical life, the so-called "dead-anyway" effect … risk increases with the initial level of risk. Their reasoning is based on differences in the marginal utility of wealth …

One possible conclusion from recent experimental research on decision making under risk is that observed behaviour can … be reasonable accommodated by expected utility plus an error term. This conclusion implies that the violation rate of … expected utility should decrease if errors are excluded. The present paper presents an experiment which investigates this …

Experimental research on decision making under risk has until now always employed choice data in order to evaluate the … empirical performance of expected utility and the alternative nonexpected utility theories. The present paper performs a similar …