providing real-world examples demonstrating its significance in shaping markets and consumer behavior. Consumer surplus is based on the economic theory of marginal utility, which is the additional ...

I analyze two expected utility models which abandon the consequentialist assumption of terminal wealth positions. In the expected utility of gambling wealth model, in which initial wealth is allowed ...

This is a preview. Log in through your library . Abstract We extend the analysis of risk aversion with state-dependent preferences to the rank-dependent expected utility theory. We find that in this ...