Ordinal Utility and Preference Reversal Phenomenon

Kazuhisa Takemura
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Kazuhisa Takemura: Waseda University

Chapter Chapter 2 in Behavioral Decision Theory, 2014, pp 17-25 from Springer

Abstract: Abstract Chapter 1 described that decision-making phenomena are broadly divisible into those under certainty, those under risk, and others under uncertainty. This chapter first introduces the concept of utility used to explain such decision-making phenomena and briefly presents the idea of traditional ordinal utility theory.

Keywords: Preference Relation; Match Problem; Weak Order; Logical Symbol; Cardinal Utility (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-4-431-54580-4_2

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DOI: 10.1007/978-4-431-54580-4_2

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