By Topic

Decision and information structures in regret models of judgment and choice

Sign In

Cookies must be enabled to login.After enabling cookies , please use refresh or reload or ctrl+f5 on the browser for the login options.

Formats Non-Member Member
$31 $13
Learn how you can qualify for the best price for this item!
Become an IEEE Member or Subscribe to
IEEE Xplore for exclusive pricing!
close button

puzzle piece

IEEE membership options for an individual and IEEE Xplore subscriptions for an organization offer the most affordable access to essential journal articles, conference papers, standards, eBooks, and eLearning courses.

Learn more about:

IEEE membership

IEEE Xplore subscriptions

2 Author(s)
Sage, A.P. ; Dept. of Systems Engng., Univ. of Virginia, Charlottesville, VA, USA ; White, E.B.

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.

Published in:

Systems, Man and Cybernetics, IEEE Transactions on  (Volume:SMC-13 ,  Issue: 2 )