Utility Scales of Monetary and Non-Monetary Events.
Abstract
Two hundred and five items representing various objects and events were category scaled twice for 'value' or 'worth'. Eleven positive and eleven negative items with minimum uniform variance were embedded along with gains and losses of money into two magnitude estimation schedules. Using the monetary values as the physical stimulus continuum, the utility function of money for positive and negative increments approximated the previous findings. The author construes the magnitude estimation values for the non-monetary events as representations of their utility. This assumption is discussed.
Document Details
- Document Type
- Technical Report
- Publication Date
- Mar 01, 1975
- Accession Number
- ADA008231
Entities
People
- Eugene Galanter
Organizations
- Columbia University