concepts
type: Collection
type: ConceptGroup
member: rank-dependent utility theory

rank-dependent utility theory
definition: Originally called anticipated utility theory, rank-dependent utility theory is a generalized expected utility model. It was first developed by John Quiggin in 1982 as a solution for violations of stochastic dominance (where one outcome is always ranked above another), which expected utility theories were not able to resolve. [Source: Encyclopedia of Medical Decision Making; Rank-Dependent Utility Theory]
broader: basis for making the decision
type: Concept

basis for making the decision
type: Concept
narrower: rank-dependent utility theory