Psychological Expected Utility Theory and Anticipatory Feelings

Andrew Caplin and John Leahy

Working Papers from C.V. Starr Center for Applied Economics, New York University

Abstract: We extend expected utility theory to situations in which the prizes incloude feelings about living with uncertainty. We provide two examples to show the impact of these anticipatory feelings on decision making.

Keywords: ANTICIPATIONS; UTILITY FUNCTION (search for similar items in EconPapers)
JEL-codes: D81 (search for similar items in EconPapers)
Pages: 37 pages
Date: 1997
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Citations: View citations in EconPapers (1)

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Journal Article: Psychological Expected Utility Theory and Anticipatory Feelings (2001)
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Persistent link: https://EconPapers.repec.org/RePEc:cvs:starer:97-37

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