The Expected Utility Insurance Premium Principle with Fourth-Order Statistics: Does It Make a Difference? [PDF]
Algorithms, 2020 The expected utility principle is often used to compute the insurance premium through a second-order approximation of the expected value of the utility of losses.
Alessandro Mazzoccoli, Maurizio Naldi
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Performance of Portfolios Based on the Expected Utility-Entropy Fund Rating Approach [PDF]
Entropy, 2021 Yang and Qiu proposed and reframed an expected utility–entropy (EU-E) based decision model. Later on, a similar numerical representation for a risky choice was axiomatically developed by Luce et al. under the condition of segregation.
Daniel Chiew +4 more
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Generative Bayesian Computation for Maximum Expected Utility [PDF]
EntropyGenerative Bayesian Computation (GBC) methods are developed to provide an efficient computational solution for maximum expected utility (MEU). We propose a density-free generative method based on quantiles that naturally calculates expected utility as a ...
Nick Polson +2 more
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Classical subjective expected utility. [PDF]
Proc Natl Acad Sci U S A, 2013 We consider decision makers who know that payoff-relevant observations are generated by a process that belongs to a given class M , as postulated in Wald [Wald A (1950) Statistical Decision Functions (Wiley, New York)].
Cerreia-Vioglio S +3 more
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The Impact of the Expected Utility and Experienced Utility Gap on Electric Vehicle Repurchase Intention in Jiangsu, China [PDF]
World Electric Vehicle JournalThe global automotive industry’ s rapid transformation has led to electric vehicles (EVs) capturing a significant market share as a sustainable transportation option.
Xiao Zheng +3 more
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Deploying Experienced Utility in Health Economic Evaluation: A Quantitative Study [PDF]
Journal of Market Access & Health PolicyBackground: Expected utility has been deployed in order to predict health behaviour in health economic evaluation. However, only limited variance in health behaviour is explained by this construct.
Damien S. E. Broekharst +5 more
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Boundedly rational expected utility theory. [PDF]
J Risk Uncertain, 2018 We build a satisficing model of choice under risk which embeds Expected Utility Theory (EUT) into a boundedly rational deliberation process. The decision maker accumulates evidence for and against alternative options by repeatedly sampling from her underlying set of EU preferences until the evidence favouring one option satisfies her desired level of ...
Navarro-Martinez D +4 more
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Deploying projected utility to predict health behaviour in health economics: a quantitative study [PDF]
Scientific ReportsExpected utility is increasingly deployed as a predictor of health behaviour within the broader domain of health economics and health sciences in general. However, research shows that this concept only explains limited variance in health behaviour.
Damien S. E. Broekharst +4 more
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Random Rank-Dependent Expected Utility
Games, 2022 We present a novel characterization of random rank-dependent expected utility for finite datasets and finite prizes. As a byproduct, we obtain a characterization of random expected utility that works for finite datasets.
Nail Kashaev, Victor H. Aguiar
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Rethinking the eidos, genos, and diaphora of the health utility concept: a psychological perspective
Frontiers in Psychology, 2023 The notion of utility gained a strong foothold in health economics over the last decades. However, the concept of health utility has not yet been decisively or irrefutably defined and the definitions that exist often do not take into account the current ...
Damien S. E. Broekharst +5 more
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