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- W3124751520 abstract "This paper argues that any specific utility or disutility for gambling must be excluded from expected utility because such a theory is consequential while a pleasure or displeasure for gambling is a matter of process, not of consequences. A (dis)utility for gambling is modeled as a process utility which monotonically combines with expected utility restricted to consequences. This allows for a process (dis)utility for gambling to be revealed. As an illustration, the model shows how empirical observations in the Allais paradox can reveal a process disutility of gambling. A more general model of rational behavior combining processes and consequences is then proposed and discussed." @default.
- W3124751520 created "2021-02-01" @default.
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- W3124751520 date "2001-09-01" @default.
- W3124751520 modified "2023-09-27" @default.
- W3124751520 title "A process approach to the utility for gambling" @default.
- W3124751520 hasPublicationYear "2001" @default.
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