Rationality is usually defined in terms of expected utility maximization. This paper argues for defining it in terms of conditional expected utility maximization by showing this conception's superior ...

We estimate real-world private firm default probabilities over a fixed time horizon. The default probabilities are conditioned on a vector of explanatory variables which include financial ratios, ...

This is a preview. Log in through your library . Abstract This paper shows how the problem of predicting traveler behavior may be approached in terms of economic utility theory. A general utility ...

Lundy, Taylor, Alexander Wei, Hu Fu, Scott Duke Kominers, and Kevin Leyton-Brown. "Allocation for Social Good: Auditing Mechanisms for Utility Maximization." Proceedings of the ACM Conference on ...

While economic textbooks have long relied on a utility-maximization model of economic decision-making, Robert J. Shiller and other behavioral economists continue to demonstrate that human behavior is ...