PREFERENCE CONDITIONS FOR UTILITY-MODELS - A RISK-VALUE PERSPECTIVE

Authors
DYER JS JIA JM
Citation
Js. Dyer et Jm. Jia, PREFERENCE CONDITIONS FOR UTILITY-MODELS - A RISK-VALUE PERSPECTIVE, Annals of operations research, 80, 1998, pp. 167-182
Citations number
23
Categorie Soggetti
Operatione Research & Management Science","Operatione Research & Management Science
Journal title
Annals of operations research → ACNP
ISSN journal
02545330
Volume
80
Year of publication
1998
Pages
167 - 182
Database
ISI
SICI code
0254-5330(1998)80:<167:PCFU-A>2.0.ZU;2-A
Abstract
This paper discusses necessary and sufficient preference conditions fo r utility models based on a risk-value framework. These conditions pro vide additional insights into traditional utility models regarding dec ision making by risk-value tradeoffs, and can help decision makers ide ntify specific functional forms of utility measure in practice.