Semiorders and a Theory of Utility Discrimination
ثبت نشده
چکیده
In the theory of preferences underlying utility theory i t is generally assumed that the indifference relation is transitive, and this leads t o equivalence classes of indifferent elements or, equally, t o indifference curves. It has been pointed out that this assumption is contrary to experience and that utility is not perfectly discriminable, as such a theory necessitates. In this paper intransitive indifference relations are admitted and a class of them are axiomatized. This class is shown t o be substantially equivalent t o a utility theory in which there are just noticeable difference functions which state for any value of utility the change in utility so that the change is just noticeable. In the case of risk represented by a linear utility function over a mixture space, the precise form of the function is examined in detail.
منابع مشابه
Utility of Complex Alternatives in Multiple-Choice Items: The Case of All of the Above
This study investigated the utility of all of the above (AOTA) as a test option in multiple-choice items. It aimed at estimating item fit, item difficulty, item discrimination, and guess factor of such a choice. Five reading passages of the Key English Test (KET, 2010) were adapted. The test was reconstructed in 2 parallel forms: Test 1 did not include the abovementioned alternative, whereas Te...
متن کاملEntropy-Related Measures of the Utility of Gambling
The first author has known Peter for a very long time, dating back some 45 years to when we met at a colloquium he gave at the University of Pennsylvania. After that our paths crossed fairly often. For example, in the early 1970s, he spent a year at the Institute for Advanced Study where Luce spent three years until the attempt to establish a program in scientific social science was abandoned f...
متن کاملMultiple utility constrained multi-objective programs using Bayesian theory
A utility function is an important tool for representing a DM’s preference. We adjoin utility functions to multi-objective optimization problems. In current studies, usually one utility function is used for each objective function. Situations may arise for a goal to have multiple utility functions. Here, we consider a constrained multi-objective problem with each objective having multiple utili...
متن کاملSelection of Sustainable Supplier for Medical Centers with Data Envelopment Analysis (DEA) & Multi-Attributed Utility Theory (MAUT) Approaches
Background and Objectives: The selection of the sustainable supplier is important for any industry. Medical centers are not an exception in this case, and selecting the best sustainable supplier is a major step towards increasing their productivity. This paper, using the Data Envelopment Analysis and then using Multi-Attributed Utility Theory as a backup approach to fix errors, attempts t...
متن کاملThe Discriminational Role of Reinforcement sensitivity theory, Emotion Regulation Processes Strategies and Cognitive Flexibility in Discrimination of People with Internet Addiction
The present study was conducted with the aim of determining the discrimination role of reinforcement sensitivity theory, emotion regulation processes strategies and cognitive flexibility in discrimination of people with internet addiction. The research design was a two-group diagnostic function. The study population included Internet user students at Imam Khomeini International University in Qa...
متن کامل