of these lotteries for each state. Thus, this paper's main departure from the standard subjective expected utility model … utility models and the behavior implied by the multiple priors models. …

rate. Interior efficient allocations and equilibria coincide with those of economies with subjective expected utility and …

Expected Utility theory is not only applied to individual choices but also to ethical decisions, e.g. in cost …

In economic theory, utility depends on past, present and future outcomes. The experiment described in this paper … suggests that utility also depends on people's attitudes, and that it can easily be manipulated through these attitudes. The … results imply, first, that purely outcome-based models of individual utility may be incomplete. Second, that reference …

The concept of utility is often used in ambiguous ways in economics, from having substantive psychological connotations … conceive of utility. It turns out that empirical evidence does not favor a view of multidimensional utility. This does not … eliminate the possibility to make a normative argument supporting a multidimensional notion of utility. …

Contemporary approaches to decision making describe a decision problem by sets of states and outcomes, and a rich set … of acts: functions from states to outcomes over which the decision maker (DM) has preferences. Real problems do not come … decision making, in which the primitive objects of choice are syntactic programs. We show that if the DM's preference relation …

If a decision maker, in a world of uncertainty à la Anscombe and Aumann (1963), can choose acts according to some … utility function). In fact there is no (common) experimental design that allows an experimenter to test more than EUOL. For … any decision problem (or set of decision problems), for any preference relation that satisfies the Axiom EUOL, and for any …

been empirically investigated whether uncertainty-averse decision makers indeed exhibit such preferences. Here, we examine …

which the decision maker has to make some effort in order to avoid mistakes when implementing any desired outcome. The … disutility of this effort enters the decision maker's goal function in an additively separable way. A particular disutility … random-utility approach, the present approach leads to a normalization of the achieved utility with respect to the number of …