Accession Number:

AD0726472

Title:

Estimating Utility Functions Using Preferences Revealed Under Uncertainty,

Descriptive Note:

Corporate Author:

CENTER FOR NAVAL ANALYSES ARLINGTON VA

Personal Author(s):

Report Date:

1971-06-01

Pagination or Media Count:

19.0

Abstract:

Those who take the normative point of view of decision making under uncertainty typically suggest, sometimes explicity, that it is sufficient to estimate utility functions on the sole basis of responses to hypothetical questions. This paper, which also takes the normative viewpoint, criticizes that approach on several grounds and proposes the alternative of combining that technique with observations of choices made under uncertainty in real life. The concept is demonstrated using a fairly common problem in the clinical setting -- the case of severe abdominal pain in a young woman. Author

Subject Categories:

  • Medicine and Medical Research
  • Operations Research

Distribution Statement:

APPROVED FOR PUBLIC RELEASE