SUBJECTIVELY WEIGHTED UTILITY AND THE ALLAIS PARADOX

被引:69
作者
KARMARKAR, US
机构
来源
ORGANIZATIONAL BEHAVIOR AND HUMAN PERFORMANCE | 1979年 / 24卷 / 01期
关键词
D O I
10.1016/0030-5073(79)90016-3
中图分类号
C93 [管理学];
学科分类号
12 ; 1201 ; 1202 ; 120202 ;
摘要
The Allais Paradox" is often cited as an example of the limited descriptive ability of the Expected Utility model. It is shown here that the Allais Paradox does not induce a contradiction in the Subjectively Weighted Utility (SWU) model proposed elsewhere as a descriptive extension of the expected utility framework. This approach is compared with the CE and Prospect theories of decision making in which a "subcertainty" property explains the Allais Paradox. The related issues of independence of outcomes and the aggregation of outcomes are also discussed briefly. © 1979."
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页码:67 / 72
页数:6
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