A Combination of Expected Utility and Maxmin Decision Criteria

Itzhak Gilboa

Post-Print from HAL

Abstract: A new explanation of the Allais paradox is suggested. A decision rule representable by an increasing function of the expected utility and the minimum utility is axiomatized. The lexicographic separability of this function is also discussed and axiomatized.

Keywords: Expected Utility; Maxmin Decision Criteria (search for similar items in EconPapers)
Date: 1988-12
References: Add references at CitEc
Citations: View citations in EconPapers (28)

Published in Journal of Mathematical Psychology, 1988, vol. 32, issue 4, pp. 405-420. ⟨10.1016/0022-2496(88)90020-X⟩

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-00753244

DOI: 10.1016/0022-2496(88)90020-X

Access Statistics for this paper

More papers in Post-Print from HAL
Bibliographic data for series maintained by CCSD ().