On the utility of gambling: Extending the approach of Meginiss (1976)

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dc.contributor.author Ng, C en_US
dc.contributor.author Luce, R en_US
dc.contributor.author Marley, Anthony en_US
dc.contributor.editor en_US
dc.date.accessioned 2011-02-07T06:17:54Z
dc.date.available 2011-02-07T06:17:54Z
dc.date.issued 2008 en_US
dc.identifier 2010000425 en_US
dc.identifier.citation Marley Anthony, Luce R, and Ng C 2008, 'On the utility of gambling: Extending the approach of Meginiss (1976)', Birkhauser, vol. 76, no. 3, pp. 281-304. en_US
dc.identifier.issn 0001-9054 en_US
dc.identifier.other C1UNSUBMIT en_US
dc.identifier.uri http://hdl.handle.net/10453/12998
dc.description.abstract J. R. Meginniss modified expected utility to accommodate a concept of the utility of gambling that led to a representation composed of a utility expectation term plus an entropy of degree ? term. He imposed several apparently strong assumptions. One of these is that a number of unknown generating functions are identical. A second is that he assumed he was working with given probabilities. Here we follow his general framework but weaken considerably those assumptions. Our problem is reduced to solving some functional equations induced by gamble decomposition. From the solutions, we obtain the representation of the utility function. Further axiomatic restrictions are imposed that lead ultimately to Meginniss? earlier result. en_US
dc.language en_US
dc.publisher Birkhauser en_US
dc.relation.isbasedon http://dx.doi.org/10.1007/s00010-008-2931-0 en_US
dc.title On the utility of gambling: Extending the approach of Meginiss (1976) en_US
dc.parent Aequationes Mathematecae en_US
dc.journal.volume 76 en_US
dc.journal.number 3 en_US
dc.publocation Basel, Switzerland en_US
dc.identifier.startpage 281 en_US
dc.identifier.endpage 304 en_US
dc.cauo.name BUS.The Dean's Unit en_US
dc.conference Verified OK en_US
dc.for 010100 en_US
dc.personcode 0000065126 en_US
dc.personcode 0000065143 en_US
dc.personcode 102475 en_US
dc.percentage 100 en_US
dc.classification.name Pure Mathematics en_US
dc.classification.type FOR-08 en_US
dc.edition en_US
dc.custom en_US
dc.date.activity en_US
dc.location.activity en_US
dc.description.keywords Entropy - expected utility - functional equations - gamble decomposition - utility of gambling en_US
dc.staffid 102475 en_US

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