Utility Theories: Measurements and Applications

Utility Theories: Measurements and Applications
Author :
Publisher : Springer Science & Business Media
Total Pages : 304
Release :
ISBN-10 : 9789401129527
ISBN-13 : 9401129525
Rating : 4/5 (27 Downloads)

Book Synopsis Utility Theories: Measurements and Applications by : Ward Edwards

Download or read book Utility Theories: Measurements and Applications written by Ward Edwards and published by Springer Science & Business Media. This book was released on 2013-12-01 with total page 304 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Conference on "Utility: Theories, Measurements, and Applications" met at the Inn at Pasatiempo in Santa Cruz, California, from June II to 15, 1989. The all-star cast of attendees are listed as authors in the Table of Contents of this book (see p. V), except for Soo Hong Chew and Amos Tversky. The purpose of the conference, and of National Science Foundation Grant No. SES-8823012 that supported it, was to confront proponents of new generalized theories of utility with leading decision analysts com mitted to the implementation, in practice, of the more traditional theory that these new theories reject. That traditional model is variously iden tified in this book as expected utility or subjectively expected utility maximization (EU or SEU for short) and variously attributed to von Neumann and Morgenstern or Savage. I had feared that the conference might consist of an acrimonious debate between Olympian normative theorists uninterested in what people actually do and behavioral modelers obsessed with the cognitive illusions and uninterested in helping people to make wise decisions. I was entirely wrong. The conferees, in two dramatic straw votes at the open ing session, unanimously endorsed traditional SEU as the appropriate normative model and unanimously agreed that people don't act as that model requires. (These votes had a profound impact on my thinking; detail about them and about that impact is located in Chapter 10.


Utility Theories: Measurements and Applications Related Books

Utility Theories: Measurements and Applications
Language: en
Pages: 304
Authors: Ward Edwards
Categories: Business & Economics
Type: BOOK - Published: 2013-12-01 - Publisher: Springer Science & Business Media

DOWNLOAD EBOOK

The Conference on "Utility: Theories, Measurements, and Applications" met at the Inn at Pasatiempo in Santa Cruz, California, from June II to 15, 1989. The all-
Applying Particle Swarm Optimization
Language: en
Pages: 355
Authors: Burcu Adıgüzel Mercangöz
Categories: Business & Economics
Type: BOOK - Published: 2021-05-13 - Publisher: Springer Nature

DOWNLOAD EBOOK

This book explains the theoretical structure of particle swarm optimization (PSO) and focuses on the application of PSO to portfolio optimization problems. The
Handbook of Utility Theory
Language: en
Pages: 636
Authors: Salvador Barbera
Categories: Business & Economics
Type: BOOK - Published: 2004-03-31 - Publisher: Springer Science & Business Media

DOWNLOAD EBOOK

The standard rationality hypothesis is that behaviour can be represented as the maximization of a suitably restricted utility function. This hypothesis lies at
Handbook of Utility Theory
Language: en
Pages: 714
Authors: Salvador Barbera
Categories: Business & Economics
Type: BOOK - Published: 1998 - Publisher: Springer Science & Business Media

DOWNLOAD EBOOK

The standard rationality hypothesis implies that behaviour can be represented as the maximization of a suitably restricted utility function. This hypothesis lie
History of Marginal Utility Theory
Language: en
Pages: 271
Authors: Emil Kauder
Categories: Business & Economics
Type: BOOK - Published: 2015-12-08 - Publisher: Princeton University Press

DOWNLOAD EBOOK

The author blends historical narrative with a topical approach and discusses such aspects of the theory as measurement, total value, and imputation. Originally