We present a preference foundation for Chance Theory (CT), a model of decision making under uncertainty where the … and the potential increments over it are evaluated by subjective expected utility with a risky utility function u. In … contrast to earlier approaches with models that aimed at separating riskless and risky utility, CT does not violate basic …

subsequent times learns to behave as prescribed by the expected-utility model. To do so, the analysis moves from the relevant …), and this is true to a greater extent in a complex context. The expected-utility model explains real behaviours in the long …

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 …