Anticipated utility: A measure representation approach

Anticipated utility: A measure representation approach

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Article ID: iaor1989285
Country: Switzerland
Volume: 19
Start Page Number: 359
End Page Number: 373
Publication Date: May 1989
Journal: Annals of Operations Research
Authors:
Abstract:

This paper presents axioms which imply that a preference relation over lotteries can be represented by a measure of the area above the distribution function of each lottery. A special case of this family is the anticipated utility functional. One additional axiom implies this theory. This functional is then extended for the case of vectorial prizes.

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