Inherent Individual Differences in Utility
نویسنده
چکیده
1 Who knoWs a utility representation Repeatedly it is alleged that this or that theory concerns a decision maker maximizing some utility function. But, as I have been at pains to discuss, the representation is not a creature of the decision maker but of the scientist studying the decision maker’s behavior “The representation theorems go in only one direction: from behavioral and structural properties to numerical representations. The behavioral properties embody the scientific information that we, as scientists, have about the decision maker. It is the scientist, not the decision maker, who formulates both the properties (axioms) and the representation. The decision maker exhibits the behavior which, presumably, arises from some fairly complex neuronal processes...” (Luce, 2000, p. 25). This observation holds far more broadly than just in decision making.
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