Probability versus Certainty Equivalence Methods in Utility Measurement: Are They Equivalent?
Certainty equivalence (CE) and probability equivalence (PE) methods are the two most frequently used procedures for constructing von Neumann-Morgenstern utility functions. In this paper, we compare these methods experimentally, using a two-stage within-subject design. By asking subjects first for a...
| Veröffentlicht in: | Management Science. - Institute for Operations Research and the Management Sciences, 1954. - 31(1985), 10, Seite 1213-1231 |
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| Format: | Online-Aufsatz |
| Sprache: | English |
| Veröffentlicht: |
1985
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| Zugriff auf das übergeordnete Werk: | Management Science |
| Schlagworte: | Utility/Preference Theory Estimation Information Processing Heuristics and Biases Framing Economics Behavioral sciences Applied sciences Mathematics |
| Online verfügbar |
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