because of inconsistencies in revealed preferences across behavioral frames. We adapt theories of expected utility … welfare functions, with intrapersonal frames replacing interpersonal types. Under paternalistic risk aversion or ambiguity …

Exchange, taking into account the investor’s propensity to risk. Design/methodology/approach - Investment portfolios consisting … companies in the entire portfolio were determined, maximizing portfolio’s expected (square) utility function, and then the … obtained structures were compared between investors with various levels of risk propensity. Using Hellwig’s taxonomic …

(EU) theory (a purely mathematical theory based on axioms) and Expected Utility models (EU theory plus a given economic …Rabin and Thaler (2001) declared Expected Utility an ex-hypothesis or a dead parrot alluding to the famous sketch from … Monthy Pythons Flying Circus. Following Cox and Sadiraj (2006) and others, one should distinguish between Expected Utility …