An Expected Utility Model for “Optimal†Selection

Nancy S. Petersen

Journal of Educational and Behavioral Statistics, 1976, vol. 1, issue 4, 333-358

Abstract: The Threshold Utility Model for culture-fair selection introduced by Gross and Su (1975) and by Petersen (1974) is defined here for both quota-free and for restricted selection. In addition, a full Bayesian solution based on posterior predictive distributions is provided. By providing a mechanism for coherently combining probabilities and utilities, this model makes it possible to determine an optimal selection strategy in all situations in which a threshold utility function is applicable. This paper studies the mathematical properties of the solution in detail in the case of quota-free selection. In the more complex restricted selection case, the study lacks some detail but is more complete than that given by Gross and Su and should be adequate for most practical purposes. Several data analyses highlight the strengths and weaknesses of the model.

Keywords: Selection; Culture-Fair Selection; Personnel Selection; Academic Selection; Expected Utility Model; Threshold Utility Model; Quota-Free Selection; Restricted Selection; Predictive Distributions (search for similar items in EconPapers)
Date: 1976
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Persistent link: https://EconPapers.repec.org/RePEc:sae:jedbes:v:1:y:1976:i:4:p:333-358

DOI: 10.3102/10769986001004333

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