James Chen, CMT is an expert trader, investment adviser, and global market strategist. Thomas J. Brock is a CFA and CPA with more than 20 years of experience in various areas including investing, ...

This paper begins by observing that any reflexive binary (preference) relation (over risky prospects) that satisfies the independence axiom admits a form of expected utility representation. We refer ...

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 ...

Decision theory is a cornerstone of economic analysis, providing a framework for understanding how individuals and institutions make choices under conditions of uncertainty and risk. At its core, the ...

Andrew Bloomenthal has 20+ years of editorial experience as a financial journalist and as a financial services marketing writer. Erika Rasure is globally-recognized as a leading consumer economics ...