A note on uncertainty and perception concerning measurable utility

Cheng-Zhong Qin and Martin Shubik

Economics Letters, 2015, vol. 130, issue C, 83-84

Abstract: A linkage to reconcile measurable utility derived from intensity comparisons or from probability mixtures is provided in this note. This brief note is in honor of Lloyd Shapley whose relatively unknown seminal paper on measurable utility from axioms involving the fineness of perception offered a different view on utility measurement.

Keywords: Measurable utility; Uncertainty or perception; Consistency (search for similar items in EconPapers)
JEL-codes: D81 D89 (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:130:y:2015:i:c:p:83-84

DOI: 10.1016/j.econlet.2015.03.003

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