This article reviews recent developments in revealed preference theory. It discusses the testable implications of … theories of choice that are germane to specific economic environments. The focus is on expected utility in risky environments …, subjected expected utility and maxmin expected utility in the presence of uncertainty, and exponentially discounted utility for …

Although the link between risk aversion and diminishing marginal utility of wealth is academically well established …-based support for the concept of relative utility and reconfirmation of the meaningful role of behavioural finance in economics and …