Utility of Gains and Losses

Download or read book Utility of Gains and Losses written by R. Duncan Luce and published by Psychology Press. This book was released on 2014-04-04 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new monograph presents Dr. Luce's current understanding of the behavioral properties people exhibit (or should exhibit) when they make selections among alternatives and how these properties lead to numerical representations of those preferences. It summarizes, and places in historical perspective, the research Dr. Luce has done on utility theory for over 10 years. Included are axiomatic theoretical formulations, experiments designed to test individual assumptions, and analyses of the fit to bodies of data of numerical representations derived from the theory.