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J. R. Meginniss modified expected utility to accommodate a concept of the utility of gambling that led to a representation composed of a utility expectation term plus an entropy of degree κ term. He imposed several apparently strong assumptions. One

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_dedup___::24148f584d95039aaa443bda8386c6dd
https://doi.org/10.1007/s00010-008-2931-0

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Utility of gambling II: risk, paradoxes, and data

Autor: R. Duncan Luce, C. T. Ng, János Aczél, A. A. J. Marley

Publikováno v: Economic Theory. 36:165-187

We specialize our results on entropy-modified representations of event-based gambles to representations of probability-based gambles by assuming an implicit event structure underlying the probabilities, and adding assumptions linking the qualitative

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_dedup___::5c685aa7db55f4b3d271edf6f089fccf
https://doi.org/10.1007/s00199-007-0259-y

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Utility of gambling under p(olynomial)-additive joint receipt and segregation or duplex decomposition

Autor: R. Duncan Luce, A. A. J. Marley, C. T. Ng

This article continues our exploration of the utility of gambling, but here under the assumption of a non-additive but p(olynomial)-additive representation of joint receipt. That assumption causes the utility of gambling term to have a multiplicative

Externí odkaz: https://explore.openaire.eu/search/publication?articleId=doi_dedup___::c875f4d6dedaf4e70f9ea8ae1c6f7b1d
https://hdl.handle.net/1959.8/155510

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