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... > social science subjects > health and social care > medical science > medicine > clinical medicine > medical decision making > basis for making the decision > rank-dependent utility theory
... > other subjects > natural sciences > life sciences > medical science > medicine > clinical medicine > medical decision making > basis for making the decision > rank-dependent utility theory

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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]

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https://concepts.sagepub.com/social-science/concept/rank-dependent_utility_theory

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