𝔖 Bobbio Scriptorium
✦   LIBER   ✦

The Utility of Gambling Reconsidered

✍ Scribed by Enrico Diecidue; Ulrich Schmidt; Peter P. Wakker

Book ID
111606860
Publisher
Springer
Year
2004
Tongue
English
Weight
119 KB
Volume
29
Category
Article
ISSN
0895-5646

No coin nor oath required. For personal study only.

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## Abstract Health effects for cost‐effectiveness analysis are best measured in life years, with quality of life in each life year expressed in terms of utilities. The standard gamble (SG) has been the gold standard for utility measurement. However, the biases of probability weighting, loss aversio