Chapter 4. Utility and Decision-Making

  1. Vic Barnett

Published Online: 27 MAY 2008

DOI: 10.1002/9780470316955.ch4

Comparative Statistical Inference, Third Edition

Comparative Statistical Inference, Third Edition

How to Cite

Barnett, V. (1999) Utility and Decision-Making, in Comparative Statistical Inference, Third Edition, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9780470316955.ch4

Author Information

  1. Professor of Environmental Statistics, University of Norttingham, UK

Publication History

  1. Published Online: 27 MAY 2008
  2. Published Print: 13 JUL 1999

ISBN Information

Print ISBN: 9780471976431

Online ISBN: 9780470316955

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Keywords:

  • theory of utility;
  • course of action;
  • sample data;
  • empirical observation;
  • actual numerical value

Summary

The prelims comprise:

  • Setting a Value on Rewards and Consequences

  • The Rational Expression of Preferences

  • Preferences for Prospects and Mixtures of Prospects

  • The Numerical Assessment of Prospects

  • The Measurement of Utilities

  • Decision-making

  • The Utility of Money

  • The Utility of Money

  • Comment: Mathematical Refinements: Distinctions of Attitude