Titlebook: Recent Developments in the Foundations of Utility and Risk Theory; L. Daboni,A. Montesano,M. Lines Book 1986 D. Reidel Publishing Company,

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A Characterization of Decision Matrices that Yield Instrumental Expected UtilityIn this paper, conditions are given under which decision matrices yield the kind of expected utility proposed by Stalnaker (1972). This is the kind of expected utility that Harper and I (1978) called U-utility; in this paper I call it ..

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Associative Means and Utility TheoryLet C be a set of random payoffs (lotteries) whose outcomes belong to the closed interval a≤x≤b.

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On Utility Functions in a Financial Context1.1. — A financial context is to be defined by means of the kind of operations we refer to, and the purpose we pursue.

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The Generalized Means Model (GMM) For Non-Deterministic Decision Making: A Unified Treatment for theTwo schools of thought have been arguing for more than thirty years about the foundations of the theory of choice under uncertainty, namely:

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Concave Additively Decomposable Representing Functions and Risk AversionWe study preference relations on sets that are finite-fold cartesian products. Elements of these sets will be called .. The preference relation represents the opinion of a decision maker.

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Regret, Recrimination and Rationality1ourably with ‘what might have been’. Conversely, if ‘what is’ compares favourably with ‘what might have been’, the individual will experience a pleasurable sensation, which we have called .. We assume that when making a choice between two actions, the individual can foresee the various experiences o

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Determination of Cardinal Utility According to an Intrinsic Invariant Modelunction of cardinal utility which together constitute the intrinsic invariant model. This agreement is the more remarkable in that the intrinsic invariant model was deduced from the analysis of the empirical data of the 1952 Experiment alone, and it applies itself as well to the empirical data of th

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