This paper theoretically and experimentally studies decision-making in risky and social environments. We explore the … interdependence of individual risk attitudes and social preferences in form of inequality aversion as two decisive behavioral … determinants in such contexts. Our model and the data demonstrate that individual risk aversion is attenuated when lagging behind …

The decision theory under risk or uncertainty has for object to describe the behavior of agents facing several … to answer to the problem of decision under risk or uncertainty and to analyze the approach of these models … extension, to understand the underlying optimization process to all decision.The determination of the representative function of …

). Decision Utility Theory proposes straightforward risk measures, presents a simple explanation of risk attitudes by using the …. Decision Utility Theory presents an alternative solution, which makes no use of this concept. The new theory distinguishes … (1952), and applies the expected decision utility value similarly to the theory by von Neumann and Morgenstern (1944 …

disclosed the payoff structure; (2) the choice treatment in the context of SDM under risk, where the decision makers are … distribution lead to robust deviations from maximisation. The results of the choice treatment show that the risk-averse decision …We everyday engage in the 'Small Decision Making (SDM).' This paper presents an experiment on SDM that consists of the …

, subjects can reduce or even eliminate the ambiguity and turn the decision situation into one of risk. Under the assumption that …This paper focuses on information acquisition and individual decision making in ambiguous situations and presents a … choice between risky and ambiguous Ellsberg urns, we let them choose between a safe option and a risky lottery, whose risk is …

violations of coalescing (i.e., configural weight theory) instead of violations of compound independence (i.e., rank …-dependent utility or cumulative prospect theory). …

This paper theoretically and experimentally studies decision-making in risky and social environments. We explore the … interdependence of individual risk attitudes and social preferences in form of inequality aversion as two decisive behavioral … determinants in such contexts. Our model and the data demonstrate that individual risk aversion is attenuated when lagging behind …

This paper theoretically and experimentally studies decision-making in risky and social environments. We explore the … interdependence of individual risk attitudes and social preferences in the form of inequality aversion as two decisive behavioral … determinants in such contexts. Our model and the data demonstrate that individual risk aversion is attenuated when lagging behind …

. Third, we find that once people have made a decision, they tend to repeat it, demonstrating a strong preference for the …

This paper analyses decision making under uncertainty when uncertain situations can be described as a Lotto lottery. In … equal. Further analysis shows that a combination of risk and ambiguity preferences can explain the subjects' uncertainty …