Perspectives on Utility Theory
Utility theory is a branch of decision analysis that is concerned with building models to explain and guide choice behavior under uncertainty in situations in which "long run" expected values are too simplistic. Beginning with Bernoulli in the 18th century, researchers have tried to analyz...
Veröffentlicht in: | Operations Research. - Institute for Operations Research and the Management Sciences, 1956. - 34(1986), 1, Seite 179-183 |
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Format: | Online-Aufsatz |
Sprache: | English |
Veröffentlicht: |
1986
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Zugriff auf das übergeordnete Werk: | Operations Research |
Schlagworte: | Economics Mathematics Behavioral sciences Philosophy |
Zusammenfassung: | Utility theory is a branch of decision analysis that is concerned with building models to explain and guide choice behavior under uncertainty in situations in which "long run" expected values are too simplistic. Beginning with Bernoulli in the 18th century, researchers have tried to analyze how people do and how people should make decisions when risk aversion is a factor. In this paper, we review some recent developments in the area. |
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ISSN: | 15265463 |