This paper is motivated by the search for one cardinal utility for decisions under risk, welfare evaluations, and other contexts. This cardinal utility should have meaning prior to risk, with risk depending on cardinal utility, not the other way around. The rank-dependent utility model can...

Methods for determining the form of utilities are needed for the implementation of utility theory in specific decisions. An important step forward was achieved when utility theorists characterized useful parametric families of utilities, and simplifying decompositions of multiattribute...

This paper provides a state-dependent extension of Savage's expected utility when outcomes are real-valued (money, distance, etc.) and utility is increasing (or, equivalently, the "loss function" is decreasing). The first novelty concerns the very definition of the functional, which is not an...

This article compares classical expected utility (EU) with the more general rank-dependent utility (RDU) models. The difference between the independence condition for preferences of EU and its comonotonic generalization in RDU provides the exact demarcation between EU and rank-dependent models....