A unified derivation of classical subjective expected utility models through cardinal utility

Article Abstract:

A model has been developed based on classical foundations of expected utility as initiated by various mathematicians such as Ramsey, de Finetti, von Neumann and Morgenstern. Appropriate weakenings have been used to characterize nonexpected utility models. It has been revealed that utility tradeoffs can be recognized in the classical axiomatizations of subjective expected utility. The recognition of the unifying principle in axioms is discussed.

Analysis, Mathematical models, Utility theory, Utility functions

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A new axiomatization of rank-dependent expected utility with tradeoff consistency for equally likely outcomes

Article Abstract:

Research describing rank dependent expected utility with a weakened variant tradeoff consistency is presented. In particular tradeoff consistency for equally likely outcomes is investigated with reference to lotteries.

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Rank-dependent preferences without ranking axioms

Article Abstract:

Research describing rank-dependent models for decision making under risk is presented. In particular a set of axioms for the implication of Yaari's dual theory is developed.

Research, Decision-making, Decision making

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