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A Post Keynesian theory of decision making under uncertainty

โœ Scribed by Giuseppe Fontana; Bill Gerrard


Book ID
108187409
Publisher
Elsevier Science
Year
2004
Tongue
English
Weight
231 KB
Volume
25
Category
Article
ISSN
0167-4870

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Ordinal utility models of decision makin
โœ Charles F. Manski ๐Ÿ“‚ Article ๐Ÿ“… 1988 ๐Ÿ› Springer US ๐ŸŒ English โš– 992 KB

This paper studies two models of rational behavior under uncertainty whose predictions are invariant under ordinal transformations of utility. The 'quantile utility' model assumes that the agent maximizes some quantile of the distribution of utility. The 'utility mass' model assumes maximization of