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Some Functional Equations Connected with the Utility of Gains and Losses

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aatitioura2002.pdf (315.78 KB)

Date

2002

Authors

Titioura, Andrei

Journal Title

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Volume Title

Publisher

University of Waterloo

Abstract

The behavioral properties shown by people when they make selections between different choices will be studied. Based on empirical and logical data a mathematical axiomatic model is built. D. Luce is a major contributor in this area. This thesis is based on his works and those of his many co-authors. Three approaches will be considered that lead to the rank-dependent utility representation of binary gambles composed only of gains (losses) relative to a status quo. The proofs involve the theory of functional equations which is a very powerful tool giving the precise numerical representations.

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Keywords

Mathematics, Utility, functional equations, binary gambles, RDU representation

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Citation

URI

http://hdl.handle.net/10012/1013

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Theses
Pure Mathematics