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Interval scalability of rank-dependent utility. / Sokolov, M.V.

In: Theory and Decision, Vol. 70, No. 3, 2011, p. 255-282.

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Harvard

Sokolov, MV 2011, 'Interval scalability of rank-dependent utility', Theory and Decision, vol. 70, no. 3, pp. 255-282. https://doi.org/10.1007/s11238-010-9241-4

APA

Sokolov, M. V. (2011). Interval scalability of rank-dependent utility. Theory and Decision, 70(3), 255-282. https://doi.org/10.1007/s11238-010-9241-4

Vancouver

Sokolov MV. Interval scalability of rank-dependent utility. Theory and Decision. 2011;70(3):255-282. https://doi.org/10.1007/s11238-010-9241-4

Author

Sokolov, M.V. / Interval scalability of rank-dependent utility. In: Theory and Decision. 2011 ; Vol. 70, No. 3. pp. 255-282.

BibTeX

@article{0667aba9c6894af9b40f454cf8ee9866,
title = "Interval scalability of rank-dependent utility",
abstract = "Luce and Narens (Journal of Mathematical Psychology, 29:1–72, 1985) showed that rank-dependent utility (RDU) is the most general interval scale utility model for binary lotteries. It can be easily established that this result cannot be generalized to lotteries with more than two outcomes. This article suggests several additional conditions to ensure RDU as the only utility model with the desired property of interval scalability in the general case. The related axiomatizations of some special cases of RDU of independent interest (the quantile utility, expected utility, and Yaari{\textquoteright}s dual expected utility) are also given.",
keywords = "Rank-dependent utility, Interval scalability, Meaningfulness",
author = "M.V. Sokolov",
year = "2011",
doi = "10.1007/s11238-010-9241-4",
language = "English",
volume = "70",
pages = "255--282",
journal = "Theory and Decision",
issn = "0040-5833",
publisher = "Springer Nature",
number = "3",

}

RIS

TY - JOUR

T1 - Interval scalability of rank-dependent utility

AU - Sokolov, M.V.

PY - 2011

Y1 - 2011

N2 - Luce and Narens (Journal of Mathematical Psychology, 29:1–72, 1985) showed that rank-dependent utility (RDU) is the most general interval scale utility model for binary lotteries. It can be easily established that this result cannot be generalized to lotteries with more than two outcomes. This article suggests several additional conditions to ensure RDU as the only utility model with the desired property of interval scalability in the general case. The related axiomatizations of some special cases of RDU of independent interest (the quantile utility, expected utility, and Yaari’s dual expected utility) are also given.

AB - Luce and Narens (Journal of Mathematical Psychology, 29:1–72, 1985) showed that rank-dependent utility (RDU) is the most general interval scale utility model for binary lotteries. It can be easily established that this result cannot be generalized to lotteries with more than two outcomes. This article suggests several additional conditions to ensure RDU as the only utility model with the desired property of interval scalability in the general case. The related axiomatizations of some special cases of RDU of independent interest (the quantile utility, expected utility, and Yaari’s dual expected utility) are also given.

KW - Rank-dependent utility

KW - Interval scalability

KW - Meaningfulness

U2 - 10.1007/s11238-010-9241-4

DO - 10.1007/s11238-010-9241-4

M3 - Article

VL - 70

SP - 255

EP - 282

JO - Theory and Decision

JF - Theory and Decision

SN - 0040-5833

IS - 3

ER -

ID: 5020046