very important... people and possibilities in a world of 7 billion..                   http://foweb.unfpa.org/SWP2011/reports/EN-SWOP2011-FINAL.pdf

Acquisition and transaction utility

To understand why it might be difficult to maximize outcomes across social categories  lines, we must first consider the meaning and nature of “transaction utility.” Thaler (1985, 1999)  posits that people derive two kinds of utilities from transactions: acquisition utility and transaction utility. Acquisition utility is “the measure of the value of the good obtained relative to its price,” whereas transaction utility “measures the perceived value of the ‘deal’.” (Thaler, 

1999)

one-line investor

"On-line investors are likeliy to become overconfident. They may believe that tehey have more ability to perform task such as stock picking than they actually do. Data provides encourage this belief with ads such as one that promises: "You will make more, because you know more". In theoretical models, overconfident individual investors trade more actively and more speculatively than they otherwise would, hold underdiversified portfolios, have lower expected utilities, and contribute to increased market
volatility" (Odean, 1998)




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