Utility of gambling. I: Entropy modified linear weighted utility

DOI10.1007/S00199-007-0260-5MaRDI QIDQ926231zbMATH OpenOpenAlexWikidataFDO

Authors R. Duncan Luce, János Aczél, Che Tat Ng, A. A. J. Marley

Publication date 26 May 2008

Published in Economic Theory (Search for Journal in Brave)

Full work available at URL https://doi.org/10.1007/s00199-007-0260-5

zbMATH Keywords

Duplex decompositionEntropyFunctional equationsJoint receiptLinear weighted utilitySegregationUtility of gambling

Mathematics Subject Classification ID

Probabilistic games; gambling (91A60) Utility theory (91B16)

Recommendations

• Utility of gambling when events are valued: An application of inset entropy
• On the utility of gambling: Extending the approach of Meginniss (1976)
• Subjectively weighted linear utility
• Utility of gambling. II: Risk, paradoxes, and data
• Ranked-weighted utilities and qualitative convolution

Cites work

• A measure of risk and a decision-making model based on expected utility and entropy
• A process approach to the utility for gambling
• scientific article; zbMATH DE number 3152611 (Why is no real title available?)
• scientific article; zbMATH DE number 3784784 (Why is no real title available?)
• scientific article; zbMATH DE number 1510510 (Why is no real title available?)
• scientific article; zbMATH DE number 3366923 (Why is no real title available?)
• scientific article; zbMATH DE number 3087284 (Why is no real title available?)
• Increasing increment generalizations of rank-dependent theories
• Independence properties vis-à-vis several utility representations
• On elements of chance
• Prospect Theory: An Analysis of Decision under Risk
• Ranked additive utility representations of gambles: Old and new axiomatizations
• Recursive inset entropies of multiplicative type on open domains
• The exchangeable multinomial model as an approach to testing deterministic axioms of choice and measurement
• The utility of gambling
• The utility of gambling reconsidered
• Theory of games and economic behavior.
• Towards a more precise decision framework. A separation of the negative utility of chance from diminishing marginal utility and the preference for safety
• Utility of gambling when events are valued: An application of inset entropy
• Utility of gambling. II: Risk, paradoxes, and data
• When four distinct ways to measure utility are the same

Cited in

(22)

• Rank- and sign-dependent linear utility models for finite first-order gambles
• Ergodic concept of utility under risk
• The utility of gambling reconsidered
• The normalized expected utility -- entropy and variance model for decisions under risk
• A decision model based on expected utility, entropy and variance
• A world of chance. Betting on religion, games, Wall Street
• Riskiness for sets of gambles
• Evaluating gambles using dynamics
• A NOTE ON THE JOINT OCCURRENCE OF INSURANCE AND GAMBLING
• Subjectively weighted linear utility
• On elements of chance
• A process approach to the utility for gambling
• Ranked-weighted utilities and qualitative convolution
• Weighted entropies
• Behavioral assumptions for a class of utility theories: a program of experiments
• On preference for simplicity and probability weighting
• Utility of gambling under p(olynomial)-additive joint receipt and segregation or duplex decomposition
• Utility of gambling when events are valued: An application of inset entropy
• A solution to a problem raised in Luce and Marley (2005)
• Purity, resistance, and innocence in utility theory
• Utility of gambling. II: Risk, paradoxes, and data
• On the utility of gambling: Extending the approach of Meginniss (1976)

This page was built for publication: Utility of gambling. I: Entropy modified linear weighted utility

Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q926231)