Decision Making Under Uncertainty: A Direct Measurement Approach

1 September 1979

journal article
Published by Oxford University Press (OUP) in Journal of Consumer Research

Vol. 6 (2) , 177-191
https://doi.org/10.1086/208760

Abstract

Focusing on the validity of subjective expected utility (SEU) choice models for explaining decision making, this research developed a novel methodology that explains subjective probability and utility scales, assigns values on these defined scales to various consumer decision problems, and has individuals estimate missing decisional components. Results from seven experiments are reported.

Keywords

DECISION MAKING
UNCERTAINTY
METHODOLOGY
ASSIGNS VALUES
VALIDITY
RESEARCH DEVELOPED
APPROACH FOCUSING
SEU
DEFINED SCALES
DECISIONAL COMPONENTS

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