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| Author: | Luce, R. D. Marley, A. A. J. |
| Title: | On elements of chance |
| Journal: | Theory and Decision
2000 : DEC, VOL. 49:2, p. 97-126 |
| Index terms: | Gambling industry Decision making |
| Freeterms: | Element of chance Idempotence Kernal equivalent Rank-dependent utility Utility of chance Utility of gambling |
| Language: | eng |
| Abstract: | One aspect of the utility of gambling may evidence itself in failures of idempotence, e.e., when all change outcomes give rise to the same consequence the 'gamle' may not be indifferent to its common consquence. This utility representation of the kernal equivalents together with the derived form of utility over joint receipts yields a utility representation of the original structure. |
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