Ranked-Weighted Utilities and Qualitative Convolution |
| |
Authors: | Marley A A J Luce R Duncan |
| |
Institution: | (1) Department of Psychology, McGill University, Canada;(2) Institute for Mathematical Behavioral Sciences, University of California, Social Science Plaza, Irvine, CA, 92697-5100 |
| |
Abstract: | For gambles—non-numerical consequences attached to uncertain chance events—analogues are proposed for the sum of independent random variables and their convolution. Joint receipt of gambles is the analogue of the sum of random variables. Because it has no unique expansion as a first-order gamble analogous to convolution, a definition of qualitative convolution is proposed. Assuming ranked, weighted-utility representations (RWU) over gains (and, separately, over losses, but not mixtures of both), conditions are given for the equivalence of joint receipt, qualitative convolution, and a utility expression like expected value. As background, some properties of RWU are developed. |
| |
Keywords: | gains decomposition qualitative convolution ranked weighted utility rank-dependent utility utility convolution |
本文献已被 SpringerLink 等数据库收录! |
|