NDLI: Decision and information structures in regret models of judgment and choice

Content Provider	IEEE Xplore Digital Library
Author	Sage, A.P. White, E.B.
Copyright Year	1971
Abstract	The use of the preference relation `selection of A and rejection of B is preferable to selection of B and rejection of A' is discussed. This contextual relation yields descriptive models of choice under uncertainty that explain many observed violations of classical single attribute utility theory. It is shown that successful use of this relation, for descriptive purposes, requires careful attention to elicitation of realistic decision situation structural models and pre- and post-decision information availability conditions within these models. Reservations with respect to use of the regret model for normative purposes, due to potential nontransitivities of the contextual relation, are discussed.
Starting Page	136
Ending Page	145
Page Count	10
File Size	2112473
File Format	PDF
ISSN	00189472
Volume Number	SMC-13
Issue Number	2
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	1983-03-01
Publisher Place	U.S.A.
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Biological system modeling Modeling Games Decision trees Utility theory Availability
Content Type	Text
Resource Type	Article
Subject	Engineering

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Decision and information structures in regret models of judgment and choice