Transforming Ordinal Riskless Utility into Cardinal Risky Utility: A Comment on Chung, Glimcher, and 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，从而用一个基数效用函数统一解释两种选择。
Chung, Glimcher, and Tymula (2019) observed both consumers’ choices over commodity bundles and choices under risk. They assumed a cardinal riskless utility function V representing consumer choices and a cardinal risky utility function U.The two were inconsistent. This note shows that the two functions can be reconciled if we assume that V is ordinal. Then one utility function U can accommodate both risky and riskless choices.