Suppose we know the utility function of a risk averse decision maker who values a risky prospect X at a price C E. Based on this information alone I develop upper bounds for the tails of the ...

A choice behavior of a decision maker is said to satisfy the "subjective expected utility hypothesis" if there exist a utility and a subjective probability such that a decision maker chooses acts with ...

Expected utility theory is complicated, but here is a potentially helpful introduction to it (and from my former Ph.D. advisor—a really awesome person!).

For example, advanced change‐of‐probability measures have been proposed to generalise expected utility theory in settings where law-of-large-numbers assumptions do not hold, thereby capturing ...