On the utility of gambling: Extending the approach of Meginniss (1976)
type: Item
instance of: scholarly article
title: On the utility of gambling: Extending the approach of Meginniss (1976)
zbMATH Open document ID: 1175.91063
author: Che Tat Ng
author: R. Duncan Luce
author: A. A. J. Marley
published in: Aequationes Mathematicae
publication date: 2009-01-29T00:00:00Z
review text: This paper deals with the axiomatic approach of utility of gambling. The authors give a generalization of \textit{Meginniss'} paper: [Proc. Amer. Stat. Assoc. (1976)], under weaker conditions, following his framework. They define a gamble decomposition and develop the functional equation associated with it. From the solution, they obtain a representation of the utility function.
reviewed by: Makiko Nisio
Mathematics Subject Classification ID: 91B16
Mathematics Subject Classification ID: 91A60
Mathematics Subject Classification ID: 94A17
Mathematics Subject Classification ID: 39B22
zbMATH DE Number: 5500352
zbMATH Keywords: entropy
zbMATH Keywords: expected utility
zbMATH Keywords: functional equations
zbMATH Keywords: gamble decomposition
zbMATH Keywords: utility of gambling
Wikidata QID: Q57086468
MaRDI profile type: Publication
full work available at URL: s00010-008-2931-0
OpenAlex ID: W2051696423
DOI: 10.1007/S00010-008-2931-0
description: scientific article; zbMATH DE number 5500352