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Expected utility for decision making with subjective models

โœ Scribed by Salvatore Modica


Publisher
Springer US
Year
1995
Tongue
English
Weight
723 KB
Volume
39
Category
Article
ISSN
0040-5833

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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