## A new model of decisions under risk using the concept of lottery dependent utility function |

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### Contents

The Allais 1952 example | 3 |

Kahneman and Tversky 1979 problems 3 and 4 | 4 |

The Classic EU Model and some Alternative Models | 14 |

15 other sections not shown

### Common terms and phrases

16 possible patterns Allais alternative models assumption Axiom HM3 Chew and MacCrimmon choice problems choices in HILO classic EU model concave function continuous decision maker decision problems defined on x0,x denote depend on F dependent utility functions dissertation equation example expected value exponential LDEU model function h function u defined functions UF(x globally risk averse HILO structure increasing independence axiom insurance and gambling Kahneman and Tversky large Bo linear function Lloyd Shapley lottery dependent utility lottery F MacCrimmon 1979a Machina maker is globally maker is risk maximal element monotonic convergence theorem observed behaviors outcomes paradox parameters patterns of choice properties prospect theory real functions real valued function respect to F right hand side risk averse lover risk lover risk neutral risky prospect Sarin side of inequalities simultaneous choice small or large stochastic dominance Table theoretical UF{x utility model weighted linear model