In violation of this assumption, we present eight experiments showing that people anticipate less utility from uncertain outcomes than from certain outcomes, even conditional on their realization.

The conditional tail expectation in risk analysis describes the expected amount of risk that can be experienced given that a potential risk exceeds a threshold value, and provides an important measure ...

Several authors [1], [2], ⋯, [6], have derived characterizations of a conditional expectation operator. That is, if T is a transformation which maps a particular set of functions into the same set, ...