A mathematical function is a formula that takes an input, x, applies a set of calculations to it, and produces an output called y. By calculating a function at a large number of set intervals, it is ...

We present a theoretical account of the origin of the shapes of utility, probability weighting, and temporal discounting functions. In an experimental test of the theory, we systematically change the ...

This paper considers the decision maker whose evaluation and consequent choice of actions is accomplished through the use of the expected utility hypothesis. In cases where the utility function is ...