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https://doi.org/10.1016/j.geb.2009.11.003

has been cited by the following article:

• TITLE: When Utility Jumps: The Value of Having Cash in the Hand

  AUTHORS: Kurt W. Rotthoff, Bentley Coffey

  KEYWORDS: Binary Jumps, Utility Theory, Risk

  JOURNAL NAME: Theoretical Economics Letters, Vol.8 No.1, January 25, 2018

  ABSTRACT: Different theoretical explanations have been developed for seemingly inconsistent actions that deal with varying levels of risk and time. We propose a simple model of utility that unifies these seemingly separate phenomena, while not departing too far from the standard models of utility maximization already in use. Our driving assumption is that preferences over riskier outcomes discontinuously depart from preferences under certainty; a jump from no risk to some risk is fundamentally different from a movement of some risk to more risk.