Comparative statics for rank-dependent expected utility theory
β Scribed by John Quiggin
- Publisher
- Springer
- Year
- 1991
- Tongue
- English
- Weight
- 734 KB
- Volume
- 4
- Category
- Article
- ISSN
- 0895-5646
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## Abstract Systematic violations of expected utility theory (EU) have been reported in the context of both money and health outcomes. Rankβdependent utility theory (RDU) is currently the most popular and influential alternative theory of choice under circumstances of risk. This paper reports a tes
Quality-adjusted life years (QALY) utility models are multiattribute utility models of survival duration and health quality. This paper formulates six classes of QALY utility models and axiomatizes these models under expected utility (EU) and rank-dependent utility (RDU) assumptions. The QALY models