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theory. Regret theory is one of the established alternatives to expected utility theory (EUT), and partly overcomes the … descriptive limitations of EUT. Under regret theory, agents suffer disutility from regret or enjoy utility from rejoicing by …
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We develop awareness-dependent subjective expected utility by taking unawareness structures introduced in Heifetz …, Meier, and Schipper (2006, 2008, 2011a) as primitives in the Anscombe-Aumann approach to subjective expected utility. We … negation of the event is ``null'. Moreover, we characterize ``impersonal' expected utility that is behaviorally …
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