utility is above the expected level, he experiences elation. The utility of a prosect X is then written: n U(X) = p[u(x) + D(u(xi) - prior)] i=1 Disappointment occurs when D(g) 0 if u(xi) - prior <0 while elation is experienced when d(g) 0 if u(xi) - prior> 0. Suppose u(x) = x and D(g) = (0g2 for g > 0 -092 for g <0 >