Titlebook: Risk, Decision and Rationality; Bertrand R. Munier Book 1988 D. Reidel Publishing Company, Dordrecht, Holland 1988 calculus.decision makin

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Evaluation Questions and Income Utilityrmined by many factors. One of the most important determinants is individual income as an index for the availability of material resources. If we take the other factors to be constant, we may concentrate on the question how well-being changes with variations in income. To stress that we like to cons

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享乐主义者

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Assessing other People’s Utilitiesonal comparisons.. It . to make these assumptions because it makes maximization of expected. social utility the basic criterion of morality, defining social utility as the arithmetic mean (or possibly as the sum) of individual utilities. Yet, this definition (in either form) will make sense only if

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Experimental Investigations into Economic Behaviour under Uncertainty using aggregate or semi-aggregate real-life data, into the validity of the predictions of Subjective Expected Utility (SEU) theory; a (growing) minority are laboratory-type experiments (or questionnaires) investigating the validity of the axioms of SEU theory, or of alternative theories of economic

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Preponderence of the Certainty Effect Over Probability Distortion in Decision Making Under Risk a . model. As a matter of fact, observations of systematic violations of EU in Allais [1], Kahneman and Tversky [7], Mac Crimmon and Larsson [15], Kunreuther [10], Schoemaker [17] and elsewhere have had no apparent effect on its popularity.

mechanism

A Model of the Influence of Certainty and Probability “Effects” on the Measurement of Utilityand the expected utility model. First, the use of certainty equivalents in the measurement of preferences results in an effect similar to but more subtle than that previously demonstrated: the dependence of the utility functions on probability is intensified by an individual’s degree of risk aversio

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