Estimates of Utility Function Parameters from Signal Detection Experiments.
COLUMBIA UNIV NEW YORK PSYCHOPHYSICS LAB
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A theory is developed to estimate the slope parameter of a presumed power law utility function from an analysis of data from a psychophysical signal detection experiment. The theory can be applied to data analyzed either by the classical theory of signal detectability or by a choice theory of detection. An experiment is described to test the consequences of the theory. The estimated parameter of the utility function is similar to the parameter obtained by magnitude estimation techniques. Author