IDEAS home Printed from https://ideas.repec.org/a/kap/jrisku/v4y1991i1p29-59.html
   My bibliography  Save this article

Rank- and Sign-Dependent Linear Utility Models for Finite First-Order Gambles

Author

Listed:
  • Luce, R Duncan
  • Fishburn, Peter C

Abstract

Finite first-order gambles are axiomatized. The representation combines features of prospect and rank-dependent theories. What is novel are distinctions between gains and losses and the inclusion of a binary operation of joint receipt. In addition to many of the usual structural and rationality axioms, joint receipt forms an ordered concatenation structure with special features for games and losses. Pfanzagl's (1959) consistency principle is assumed for gains and losses separately. The nonrational assumption is that a gamble of gains and losses is indifferent to the joint receipt of its gains pitted against the status quo and of its losses against the status quo. Copyright 1991 by Kluwer Academic Publishers

Suggested Citation

  • Luce, R Duncan & Fishburn, Peter C, 1991. "Rank- and Sign-Dependent Linear Utility Models for Finite First-Order Gambles," Journal of Risk and Uncertainty, Springer, vol. 4(1), pages 29-59, January.
    • Handle: RePEc:kap:jrisku:v:4:y:1991:i:1:p:29-59
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:jrisku:v:4:y:1991:i:1:p:29-59. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.