A new theory of cardinal utility, with an associated set of axioms, is presented. It is a generalization of the von Neumann-Morgenstern expected utility theory, which permits the analysis of phenomena associated with the distortion of subjective probability.
Australian Bureau of Agricultural Economics, Canberra City, Act 2601, Australia
Received July 1980, final version received December 1982Качество невысокое, но читабельно
