Eliciting von Neumann-Morgenstern Utilities When Probabilities are Distorted or Unknown
This paper proposes a new method, the (gamble-)tradeoff method, for eliciting utilities in decision under risk or uncertainty. The elicitation of utilities, to be used in the expected utility criterion, turns out to be possible even if probabilities are ambiguous or unknown. A disadvantage of the tr...
| Veröffentlicht in: | Management Science. - Institute for Operations Research and the Management Sciences, 1954. - 42(1996), 8, Seite 1131-1150 |
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| Format: | Online-Aufsatz |
| Sprache: | English |
| Veröffentlicht: |
1996
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| Zugriff auf das übergeordnete Werk: | Management Science |
| Schlagworte: | Utility Measurement Probability Distortion Prospect Theory Decision Analysis Risk Aversion Standard Gamble Economics Social sciences Behavioral sciences Mathematics |
| Online verfügbar |
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