## AUSI expected utility: an anticipated utility theory of relative disappointment aversionFaculty of Economics & Commerce and Economics Program, Research School of Social Sciences, Australian National University, 1994 - Decision-making - 23 pages |

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Allais paradox anticipated utility AUSI-EU functional Australian National University Axiom of Upward axiomatic certainty equivalent chance of receiving characterization choice under risk choice under uncertainty common ratio effect comparative static results concave transformation Corollary cumulative distribution function decision maker denote Dependent Expected Utility Disappointment Aversion dollars with probability expected utility maximizers expected utility theory Fx(m implies independence axiom indifference curves intuitive comparative static Journal of Economic Journal of Risk linear lottery that pays mixing both lotteries non-expected utility non-increasing for increases order stochastically dominates parameter richer pays 3000 dollars Pi]Z preference relation probability 0.75 probability of disappointment probability transformation function probability transformation parameter probit models problem Proposition Prospect Theory Quiggin random variable RDEU functionals RDEU representation Risk and Uncertainty risky activity risky asset satisfies AUSI Segal Simon Grant simple compensated spread superior outcome Tversky Upward Scale Invariance utility function utility index Wakker y)Sz Yaari zero dollars