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SEMWEB
2005
Springer

Modeling the Non-Expected Choice: A Weighted Utility Logit

14 years 5 months ago
Modeling the Non-Expected Choice: A Weighted Utility Logit
This work derives and simulates two choice models applying the weighted utility theory, a generalization of the expected utility theory. It shows one set of assumptions, which justify the practice of including the mean and the variance of a risky alternative into a linear utility function of the choice model. A Monte Carlo simulation provides empirical evidence on the robustness of the models.
Pia Koskenoja
Added 28 Jun 2010
Updated 28 Jun 2010
Type Conference
Year 2005
Where SEMWEB
Authors Pia Koskenoja
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