| Article ID: | iaor19931135 |
| Country: | United States |
| Volume: | 40 |
| Issue: | 5 |
| Start Page Number: | 1018 |
| End Page Number: | 1022 |
| Publication Date: | Sep 1992 |
| Journal: | Operations Research |
| Authors: | Peters Hans |
| Keywords: | decision theory |
A criterion called ‘improving faster than’ is proposed and characterized to compare the strength of preference of value functions. The result can be applied in decision models where no risk is involved or, at least, explicitly modeled. A bargaining theory example illustrates the criterion.