Transforming Ordinal Riskless Utility into Cardinal Risky Utility: A Comment on Chung, Glimcher, & Tymula (2019)
指出Chung等人（2019）发现的无风险与风险效用函数不一致问题，可通过将无风险效用视为序数函数来解决，从而用一个效用函数同时解释两类选择。
Chung, Glimcher, & Tymula (2019, this journal) observed both consumers’ choices over commodity bundles and choices under risk. They assumed a cardinal riskless utility function representing consumer choices, and a cardinal risky utility function . The two were inconsistent. This note shows that the two functions can be reconciled if we assume that is ordinal. Then one utility function can accommodate both risky and riskless choices.