A note on Luce-Fishburn axiomatization of rank-dependent utility

Journal of Risk and Uncertainty

Volumn 28, Issue 1, 2004, Pages 55-71

  Liu, Liping ^a  

^a UNIVERSITY OF AKRON   (United States)

Author keywords

Axiomatization; Rank dependent utility; Utility theory

Indexed keywords

EID: 3542999348     PISSN: 08955646     EISSN: None     Source Type: Journal    
DOI: 10.1023/B:RISK.0000009436.14961.6a     Document Type: Article

References (39)

1. Aczél, J. (1966). Lectures on Functional Equations and Their Applications. New York: Academic Press.
2. Birnbaum, M. H. (1992). "Violations of Monotonicity and Contextual Effects in Choice-Based Certainty Equivalents," Psychological Science 3, 310-314.
3. Budescu, D. V. and I. Fischer. (2001). "The Same But Different: An Empirical Investigation of the Reducibility Principle," Journal of Behavioral Decision Making 14, 187-206.
4. Cho, Y. and R. D. Luce. (1995). "Tests of Hypotheses About Certainty Equivalents and Joint Receipt of Gambles," Organizational Behavior and Human Decision Processes 64, 229-248.
5. Cohen, J. and C. E. M. Hansel. (1958). "The Nature of Decisions in Gambling: Equivalence of Single and Compound Subjective Probabilities," Acta Psychologica 13, 357-370.
6. Edwards, W. (1953). "Probability-Preferences in Gambling," American Journal of Psychology 66, 349-363.
7. Edwards, W. (1954a). "The Theory of Decision Making," Psychological Bulletin 51, 380-417.
8. Edwards, W. (1954b). "The Reliability of Probability Preferences," American Journal of Psychology 67, 68-95.
9. Edwards, W. (1954c). "Probability Preferences among Bets with Differing Expected Values," American Journal of Psychology 67, 56-67.
10. Edwards, W. (1955). "The Prediction of Decisions among Bets," Journal of Experimental Psychology 50, 201-214.
11. Edwards, W. (1962). "Subjective Probabilities Inferred from Decisions," Psychological Review 69, 109-135.
12. Ellsberg, D. (1961). "Ambiguity, and the Savage Axioms," Quality Journal of Economics 75, 643-669.
13. Fellner, W. (1961). "Distortion of Subjective Probabilities as Reaction to Uncertainty," Quarterly Journal of Economics 75, 670-689.
14. Fishburn, P. C. (1970). Utility Theory for Decision Making. New York: Wiley.
15. Handa, J. (1977). "Risk, Probabilities and a New Theory of Cardinal Utility," Journal of Political Economy 85, 97-122.
16. Hogarth, R. M. and H. J. Einhorn. (1990). "Venture Theory: A Model of Decision Weights," Management Science 36, 780-803.
17. Kahneman, D. and A. Tversky. (1979). "Prospect Theory: An Analysis of Decision Under Risk," Econometrica 47, 263-291.
18. Karmarkar, U. S. (1978). "Subjective Weighted Utility: A Descriptive Extension of the Expected Utility Model," Organizational Behavior and Human Performance 21, 61-72.
19. Keeney, R. L. and H. Raiffa. (1976). Decisions With Multiple Objectives: Preferences and Value Trade-offs. New York: Wiley.
20. Liu, L. (1995). A Theory of Coarse Utilities and Its Applications to Portfolio Analysis. Ph.D. Dissertation, University of Kansas.
21. Liu, L. (1999). "Approximate Portfolio Analysis," European Journal of Operational Research 119, 35-49.
22. Liu, L. (2003). "A New Foundation for the Mean-Variance Analysis," European Journal of Operational Research, in press.
23. Liu, L. and P. P. Shenoy. (1995). "A Theory of Coarse Utility," Journal of Risk and Uncertainty 11, 17-49.
24. Lopes, L. L. and G. C. Oden. (1999). "The Role of Aspiration Level in Risky Choice: A Comparison of Cumulative Prospect Theory and SP/A Theory," Journal of Mathematical Psychology 43, 286-313.
25. Luce, R. D. (1959). Individual Choice Behavior. New York: John Wiley and Sons.
26. Luce, R. D. (1998). "Coalescing, Event Commutativity, and Theories of Utility," Journal Risk and Uncertainty 16, 87-114.
27. Luce, R. D. (2000). Utility of Gains and Losses: Measurement-Theoretical and Experimental Approaches. NJ: Lawrence Erlbaum Associates. Publishers.
28. Luce, R. D. and P. C. Fishburn. (1991). "Rank- and Sign-Dependent Linear Utility Models for Finite First-Order Gambles," Journal of Risk and Uncertainty 4, 29-59.
29. Luce, R. D. and P. C. Fishburn. (1995). "A Note on Deriving Rank-Dependent Linear Utility Using Additive Joint Receipts," Journal of Risk and Uncertainty 11, 5-16.
30. Luce, R. D. and L. Narens. (1985). "Classification of Concatenation Measurement Structures According to Scale Type," Journal of Mathematical Psychology 29, 1-72.
31. Marley, A. A. J. and R. D. Luce. (2002). "A Simple Axiomatization of Binary Rank-Department Expected Utility of Gains (Losses)," Journal of Risk and Uncertainty 46, 40-55.
32. Marley, A. A. J. and R. D. Luce. (2001). "Ranked-Weighted Utilities and Qualitative Convolution," Journal of Risk and Uncertainty 23, 135-163.
33. Mellers, B., R. Weiss, and M. H. Birnbaum. (1992). "Violations of Dominance in Pricing Judgments," Journal of Risk and Uncertainty 5, 73-90.
34. Preston, M. G. and P. Baratta. (1948). "An Experimental Study of the Auction Value of an Uncertain Outcome," American Journal of Psychology 61, 183-193.
35. Quiggin, J. (1982). "A Theory of Anticipated Utility," Journal of Economic Behavior and Organization 3, 323-343.
36. Slovic, P. (1969). "Manipulating the Attractiveness of a Gamble Without Changing its Expected Value," Journal of Experimental Psychology 79, 139-145.
37. Tversky, A. and D. Kahneman. (1992). "Advances in Prospect Theory: Cumulative Representation of Uncertainty," Journal of Risk and Uncertainty 5, 297-323.
38. Wakker, P. P. and A. Tversky. (1993). "An Axiomatization of Cumulative Prospect Theory," Journal of Risk and Uncertainty 7, 147-176.
39. Yaari, M. E. (1987). "The Dual Theory of Choice Under Risk," Econometrica 55, 95-115.