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: | Segal Uzi |
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.