Students in my Basic Electronic Design course had a difficult time distinguishing between the graphical representations of e and (1e). They had no gut feeling for either term; they didn’t really know that the first decreases with time asymptotically to zero, but the second increases with time asymptotically to 1. These are very basic functions to electronics, chemistry, physics, and biology, an...

The present study was designed to investigate the disadvantageous and advantageous inequity aversion of young older adults in situations which allowed them maximize or minimize payoff inequalities. Given very limited evidence regarding an actual age-related effect on aversion, purpose this examine question using economic game, “the Give-and-Take Game”, is able circumvent certain limitations Ult...

We propose a model of history dependent disappointment aversion (HDDA), allowing the attitude of a decision-maker (DM) towards disappointment at each stage of a T -stage lottery to evolve as a function of his history of disappointments and elations in prior stages. We establish an equivalence between the existence of an HDDA representation and two documented cognitive biases. First, the DM over...

A 16-year-old girl presented with a history of new onset seizures. Her semiology favored complex partial seizures of right frontal origin characterized by facial deviation and head aversion to the left followed by tonic posturing of the left upper limb. Seizure duration was approximately one minute with no post ictal confusion and recurred every ten minutes throughout the night. She presented t...

For the standard specification of the utilitarian optimal income tax problem with hidden characteristics, the paper shows that randomized tax schemes are undesirable if preferences exhibit a property of weakly decreasing risk aversion according to the multidimensional risk aversion concept of Hellwig (2004). The property of decreasing risk aversion also implies uniqueness of the optimal income ...

The paper introduces a new notion of risk aversion that is independent of the good under observation and its measure scale. The representational framework builds on a time consistent combination of additive separability on certain consumption paths and the von Neumann & Morgenstern (1944) assumptions. In the one-commodity special case, the new notion of risk aversion closely relates to a disent...

The paper introduces a new notion of risk aversion that is independent of the good under observation and its measure scale. The representational framework builds on a time consistent combination of additive separability on certain consumption paths and the von Neumann & Morgenstern (1944) assumptions. In the one-commodity special case, the new notion of risk aversion closely relates to a disent...