objectively (resp. subjectively) expected value of a von Neumann-Morgenstern utility function. For choice under risk, this implies … concerning behavior in decision trees. Following Cubitt (1996) , these principles include dynamic consistency, separability, and … subtrees as well as entire decision trees. Examples of behavior violating these principles are also reviewed, as are possible …

probability distortions that explain violations of the linear probability model for expected utility theory (EUT). Quantum …

This paper introduces a model of decision making under ambiguity by extending the Bayesian approach to uncertain …

utility function can be represented as a convex mixture between worst and best case, but now at the local, infinitesimal level …. We study the properties of the utility function and provide an Arrow- Pratt approximation of the static and dynamic …