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Utility of gambling I: entropy modified linear weighted utility

Author

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  • R. Luce

    ()

  • C. Ng
  • A. Marley
  • János Aczél

Abstract

No abstract is available for this item.

Suggested Citation

  • R. Luce & C. Ng & A. Marley & János Aczél, 2008. "Utility of gambling I: entropy modified linear weighted utility," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 36(1), pages 1-33, July.
  • Handle: RePEc:spr:joecth:v:36:y:2008:i:1:p:1-33 DOI: 10.1007/s00199-007-0260-5
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    References listed on IDEAS

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    1. Cho, Young-Hee & Fisher, Gerald R., 2000. "Receiving Two Consequences: Tests of Monotonicity and Scale Invariance," Organizational Behavior and Human Decision Processes, Elsevier, vol. 83(1), pages 61-81, September.
    2. R. Luce & A. Marley, 2005. "Ranked Additive Utility Representations of Gambles: Old and New Axiomatizations," Journal of Risk and Uncertainty, Springer, vol. 30(1), pages 21-62, January.
    3. R. Duncan Luce, 2003. "Increasing Increment Generalizations Of Rank-Dependent Theories," Theory and Decision, Springer, pages 87-146.
    4. Cho, Young-Hee & Duncan Luce, R. & Truong, Lan, 2002. "Duplex decomposition and general segregation of lotteries of a gain and a loss: An empirical evaluation," Organizational Behavior and Human Decision Processes, Elsevier, vol. 89(2), pages 1176-1193, November.
    5. Marc Le Menestrel, 2001. "A Process Approach to the Utility for Gambling," Theory and Decision, Springer, pages 249-262.
    6. Enrico Diecidue & Ulrich Schmidt & Peter P. Wakker, 2004. "The Utility of Gambling Reconsidered," Journal of Risk and Uncertainty, Springer, vol. 29(3), pages 241-259, December.
    7. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    8. Marc Le Menestrel, 2001. "A Process Approach to the Utility for Gambling," Theory and Decision, Springer, pages 249-262.
    9. Conlisk, John, 1993. "The Utility of Gambling," Journal of Risk and Uncertainty, Springer, vol. 6(3), pages 255-275, June.
    10. Yang, Jiping & Qiu, Wanhua, 2005. "A measure of risk and a decision-making model based on expected utility and entropy," European Journal of Operational Research, Elsevier, vol. 164(3), pages 792-799, August.
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    Citations

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    Cited by:

    1. Breitmoser, Yves, 2016. "The axiomatic foundation of logit and its relation to behavioral welfare," MPRA Paper 71632, University Library of Munich, Germany.
    2. repec:kap:jrisku:v:54:y:2017:i:1:d:10.1007_s11166-017-9251-5 is not listed on IDEAS
    3. Michael H. Birnbaum & Ulrich Schmidt & Miriam D. Schneider, 2017. "Testing independence conditions in the presence of errors and splitting effects," Journal of Risk and Uncertainty, Springer, vol. 54(1), pages 61-85, February.

    More about this item

    Keywords

    Duplex decomposition; Entropy; Functional equations; Joint receipt; Linear weighted utility; Segregation; Utility of gambling; C91; D46; D81;

    JEL classification:

    • C91 - Mathematical and Quantitative Methods - - Design of Experiments - - - Laboratory, Individual Behavior
    • D46 - Microeconomics - - Market Structure, Pricing, and Design - - - Value Theory
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

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