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dc.contributor.authorBouyssou, Denis
dc.contributor.authorVansnick, Jean-Claude
dc.date.accessioned2020-10-13T10:26:09Z
dc.date.available2020-10-13T10:26:09Z
dc.date.issued1988
dc.identifier.urihttps://basepub.dauphine.fr/handle/123456789/21107
dc.language.isoenen
dc.subjectUtility Functionen
dc.subjectRisk Aversionen
dc.subjectRisk Attitudeen
dc.subjectInterval Scaleen
dc.subjectPreference Differenceen
dc.subject.ddc003en
dc.titleA Note on the Relationships between Utility and Value Functionsen
dc.typeChapitre d'ouvrage
dc.description.abstractenIn order to dissipate the confusion created by the notion of “measurability”, many authors have argued that, in general, a von Neumann-Morgenstern utility function does not measure preference differences between outcomes since it is only based on simple lottery comparisons. Nevertheless the relationships between a von Neumann-Morgenstern utility function and a function measuring preference differences have rarely been studied from a theoretical point of view. The aim of this paper is to provide a simple necessary and sufficient condition, relating even chance lotteries and preference differences, for the two functions to coincide. The discussion of the acceptability and reasonableness of this easily interpretable condition could shed a new light on this question through avoiding the problem, encountered in most empirical studies, of the dependence of the shape of the functions on the assessment method used.en
dc.identifier.citationpages103-114en
dc.relation.ispartoftitleRisk, Decision and Rationalityen
dc.relation.ispartofeditorMunier, Bertrand R.
dc.relation.ispartofpublnameSpringeren
dc.relation.ispartofdate1988
dc.relation.ispartofpages707en
dc.relation.ispartofurl10.1007/978-94-009-4019-2en
dc.subject.ddclabelRecherche opérationnelleen
dc.relation.ispartofisbn978-94-009-4019-2en
dc.relation.forthcomingnonen
dc.identifier.doi10.1007/978-94-009-4019-2_6en
dc.description.ssrncandidatenonen
dc.description.halcandidatenonen
dc.description.readershiprechercheen
dc.description.audienceInternationalen
dc.date.updated2020-10-13T10:09:13Z
hal.person.labIds989
hal.person.labIds


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