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« Utilité cardinale » dans le certain et choix dans le risque

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  • Denis Bouyssou
  • Jean-Claude Vansnick

Abstract

[fre] « Utilité cardinale » dans le certain et choix dans le risque . . Le but de cet article est d'étudier les liens existant entre la notion de fonction d'utilité au sens de von Neumann et Morgenstern et celle de fonction de valeur mesurant les différences de préférence. Cette question a donné lieu à de nombreuses controverses dont nous rappelons l'importance. On présente ensuite un ensemble de résultats donnant, en particulier, les conditions nécessaires et suffisantes pour que les deux fonctions soient identiques à une transformation affine positive près. On étudie enfin les implications de ces résultats sur un plan théorique et en matière d'aide à la décision et de calcul économique. [eng] « Cardinal utility » and risky choice . . The aim of this paper is to study the links between the notion of von Neumann-Morgenstern utility function and that of value function measuring preference differences. We fkst recall the heated debates that took place around this question. We then present a number of results giving, in particular, the necessary and sufficient conditions for these two functions to define the same interval scale. These results are then analyzed both from a theoretical and prescriptive point of view.

Suggested Citation

  • Denis Bouyssou & Jean-Claude Vansnick, 1990. "« Utilité cardinale » dans le certain et choix dans le risque," Revue Économique, Programme National Persée, vol. 41(6), pages 979-1000.
  • Handle: RePEc:prs:reveco:reco_0035-2764_1990_num_41_6_409249
    Note: DOI:10.3406/reco.1990.409249
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    References listed on IDEAS

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    1. James S. Dyer & Rakesh K. Sarin, 1982. "Relative Risk Aversion," Management Science, INFORMS, vol. 28(8), pages 875-886, August.
    2. Yaari, Menahem E, 1987. "The Dual Theory of Choice under Risk," Econometrica, Econometric Society, vol. 55(1), pages 95-115, January.
    3. Loomes, Graham & Sugden, Robert, 1982. "Regret Theory: An Alternative Theory of Rational Choice under Uncertainty," Economic Journal, Royal Economic Society, vol. 92(368), pages 805-824, December.
    4. George J. Stigler, 1950. "The Development of Utility Theory. II," Journal of Political Economy, University of Chicago Press, vol. 58, pages 373-373.
    5. Milton Friedman & L. J. Savage, 1948. "The Utility Analysis of Choices Involving Risk," Journal of Political Economy, University of Chicago Press, vol. 56, pages 279-279.
    6. Allais Maurice, 1990. "Cardinal Utility," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 1(2), pages 1-38, June.
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    Cited by:

    1. Johanna Etner & Meglena Jeleva, 2014. "Underestimation of probabilities modifications: characterization and economic implications," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 56(2), pages 291-307, June.
    2. Jean Baccelli & Philippe Mongin, 2016. "Choice-based cardinal utility: a tribute to Patrick Suppes," Journal of Economic Methodology, Taylor & Francis Journals, vol. 23(3), pages 268-288, July.
    3. Langlais, Eric, 2010. "Safety and the Allocation of Costs in Large Accidents," MPRA Paper 25710, University Library of Munich, Germany.
    4. repec:spr:grdene:v:10:y:2001:i:2:d:10.1023_a:1008795331134 is not listed on IDEAS
    5. Dorian Jullien, 2013. "Asian Disease-type of Framing of Outcomes as an Historical Curiosity," GREDEG Working Papers 2013-47, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), University of Nice Sophia Antipolis.
    6. Beuthe, Michel & Eeckhoudt, Louis & Scannella, Giuseppe, 2000. "A practical multicriteria methodology for assessing risky public investments," Socio-Economic Planning Sciences, Elsevier, vol. 34(2), pages 121-139, June.

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