Levy and Levy (2002, 2004) develop the Prospect and Markowitz stochastic dominance theory with S-shaped and reverse S-shaped utility functions for investors. In this paper, we extend Levy and Levy’s Prospect Stochastic Dominance theory (PSD) and Markowitz Stochastic Dominance theory (MSD) to the first three orders and link the corresponding S-shaped and reverse S-shaped utility functions to the...

Research is reviewed demonstrating perceptual narrowing across a variety of domains. Research is also reviewed showing that the temporal window of perceptual narrowing can be extended and, in some cases, perceptual narrowing can be reversed. Research is also reviewed highlighting the neurophysiological correlates of perceptual narrowing as well as some of the individual neurophysiological diffe...

Why should a jobbing psychiatrist be interested in a medical education textbook? Simply put, it is that we have shifted from an era of ‘See one, do one, teach one’ to one where an evidence base is available for education, not just for treatments. This is particularly the case for medical education, where the need to evidence pedagogic practice for regulators has been a priority for many years a...

This paper presents a new approach to decision-making under risk. Preference over risky prospects is defined as a triadic reference-dependent relation in a sense similar to Sugden (2003). Characterized by a set of von Neumann-Morgenstern-style axioms, a new reference-dependent representation theory – called compound utility theory (CUT) – is obtained which accommodates nonlinear preferences (in...

Current status and future prospects of the structure functions and parton distribution studies are presented.

In many theories of decision under risk (e.g., expected utility theory, rank-dependent utility theory, and prospect theory), the utility of a prospect is independent of other options in the choice set. The experiments presented here show a large effect of the available options, suggesting instead that prospects are valued relative to one another. The judged certainty equivalent for a prospect i...

This paper proposes and evaluates an evolutionary multiobjective optimization algorithm (EMOA) that uses a new quality indicator, called the prospect indicator, for parent selection and environmental selection operators. The prospect indicator measures the potential of each individual to reproduce offspring that dominate itself and spread out in the objective space. The prospect indicator allow...

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Would domestic terrorists use biological weapons?1 The conventional wisdom among experts has been that terrorists “want a lot of people watching, not a lot of people dead” and are unlikely to turn to weapons of mass destruction.2 A new school of thought proposes that improved technology has made biological attacks resulting in hundreds of thousands or millions of deaths all but inevitable. Whil...