This paper deals with weighted utility, optimism vs. pessimism, and subjective valuation of European and American … weighted utility function. Similarly, a probability distribution hazard-rate (resp., reverse hazard-rate) dominates another …

This paper merges the non-expected utility approach (Tversky and Kahneman (1992) and Quiggin (1982)) into Akerlof … and analyze the phenomenon of market failure in light of non-expected utility maximization …

probability distortions that explain violations of the linear probability model for expected utility theory (EUT). Quantum … probability theory (QPT) extends the probability distortion paradigm with state dependent preferences, and non-Kolmogorov quantum …

famous von Neumann and Morgenstern axiomatic set-up for expected utility. In particular, it shows that a rank … probability trade-off consistency condition. In contrast with the existing axiomatizations of rank-dependent utility, the … rank-dependent utility becomes possible. The probability-oriented approach of this paper also provides theoretical …

necessary and sufficient conditions for a risk averse von Neumann-Morgenstern utility function to be differentiable. The first …Differentiability is a convenient property of von Neumann-Morgenstern utility functions which is almost always imposed … but has not been translated into behavioral terms. In applications, expected utility is usually maximized subject to a …

claim of an old observation by Arrow that a risk-averse expected-utility maximizer will always accept a sufficiently small …This paper studies necessary and sufficient preference-based conditions for differentiability of risk averse (prudent …, or temperate) von Neumann-Morgenstern utility functions. The very idea to devise those conditions is based on the reverse …