State-dependent utility is a problem for the behavioral branch of decision theory under uncertainty. It questions the … exposed to the problem of state-dependent utility. The problem can be argued to be solved even when the decision-maker has no …

Consider a subjective expected utility preference relation. It is usually held that the representations with which this … relation is compatible differ only in one respect, namely, the possible scales for the measurement of utility. In this paper, I … existence is that the standard axiomatizations of subjective expected utility fail to provide the measurement of subjective …

refutation of the expected utility hypothesis, and more specifically of the condition of von Neumann-Morgenstern independence …