Utility should be a function consisting of two autonomous sections both positive and negative, that needs to be configurable to the individuals it is designed to represent. This is achieved through the target by which individuals measure their investments against as well as their individual...

Initially noted with Allais' paradox in 1953 and further supported by Kahneman and Tversky in 1979, violations of expected utility theory and the associated biases individuals exhibit gave birth to a new paradigm of decision under uncertainty. These findings provided impetus to declare expected...