This paper proposes a two-step method to successively elicit utility functions and decision weights under rank-dependent expected utility theory and its "more descriptive" version: cumulative prospect ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. In economics, demand is the consumer's ...

The purpose of this article is to set up some apparently acceptable axioms about rational choices in situations, where each alternative decision has an infinite number of sure outcomes which occur ...