Description - Utility of Gains and Losses by R. Duncan Luce
This monograph presents Dr Luce's understanding of the behavioural 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 Luce has done on utility theory since the late 1970s. 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.
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