Studies in Risk and Uncertainty

Utility Theories: Measurements and Applications

Editors: Edwards, Ward (Ed.)

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About this book

The Conference on "Utility: Theories, Measurements, and Applications" met at the Inn at Pasatiempo in Santa Cruz, California, from June II to 15, 1989. The all-star cast of attendees are listed as authors in the Table of Contents of this book (see p. V), except for Soo Hong Chew and Amos Tversky. The purpose of the conference, and of National Science Foundation Grant No. SES-8823012 that supported it, was to confront proponents of new generalized theories of utility with leading decision analysts com­ mitted to the implementation, in practice, of the more traditional theory that these new theories reject. That traditional model is variously iden­ tified in this book as expected utility or subjectively expected utility maximization (EU or SEU for short) and variously attributed to von Neumann and Morgenstern or Savage. I had feared that the conference might consist of an acrimonious debate between Olympian normative theorists uninterested in what people actually do and behavioral modelers obsessed with the cognitive illusions and uninterested in helping people to make wise decisions. I was entirely wrong. The conferees, in two dramatic straw votes at the open­ ing session, unanimously endorsed traditional SEU as the appropriate normative model and unanimously agreed that people don't act as that model requires. (These votes had a profound impact on my thinking; detail about them and about that impact is located in Chapter 10.

Table of contents (11 chapters)

Table of contents (11 chapters)

Buy this book

eBook 106,99 €
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  • ISBN 978-94-011-2952-7
  • Digitally watermarked, DRM-free
  • Included format: PDF
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Hardcover 217,36 €
price for Spain (gross)
  • ISBN 978-0-7923-9226-2
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  • Shipping restrictions
  • Usually ready to be dispatched within 3 to 5 business days, if in stock
  • The final prices may differ from the prices shown due to specifics of VAT rules
Softcover 135,19 €
price for Spain (gross)
  • ISBN 978-0-7923-9227-9
  • Free shipping for individuals worldwide
  • Institutional customers should get in touch with their account manager
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  • Usually ready to be dispatched within 3 to 5 business days, if in stock
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Bibliographic Information

Bibliographic Information
Book Title
Utility Theories: Measurements and Applications
Editors
  • Ward Edwards
Series Title
Studies in Risk and Uncertainty
Series Volume
3
Copyright
1992
Publisher
Springer Netherlands
Copyright Holder
Springer Science+Business Media New York
eBook ISBN
978-94-011-2952-7
DOI
10.1007/978-94-011-2952-7
Hardcover ISBN
978-0-7923-9226-2
Softcover ISBN
978-0-7923-9227-9
Series ISSN
0926-972X
Edition Number
1
Number of Pages
XV, 300
Topics