{"id":"https://openalex.org/W2007356320","doi":"https://doi.org/10.3390/e16073590","title":"Normalized Expected Utility-Entropy Measure of Risk","display_name":"Normalized Expected Utility-Entropy Measure of Risk","publication_year":2014,"publication_date":"2014-06-30","ids":{"openalex":"https://openalex.org/W2007356320","doi":"https://doi.org/10.3390/e16073590","mag":"2007356320"},"language":"en","primary_location":{"id":"doi:10.3390/e16073590","is_oa":true,"landing_page_url":"https://doi.org/10.3390/e16073590","pdf_url":"https://www.mdpi.com/1099-4300/16/7/3590/pdf?version=1424785551","source":{"id":"https://openalex.org/S195231649","display_name":"Entropy","issn_l":"1099-4300","issn":["1099-4300"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Entropy","raw_type":"journal-article"},"type":"article","indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://www.mdpi.com/1099-4300/16/7/3590/pdf?version=1424785551","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5000483300","display_name":"Jiping Yang","orcid":"https://orcid.org/0000-0002-1711-0834"},"institutions":[{"id":"https://openalex.org/I82880672","display_name":"Beihang University","ror":"https://ror.org/00wk2mp56","country_code":"CN","type":"education","lineage":["https://openalex.org/I82880672"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"Jiping Yang","raw_affiliation_strings":["School of Economics and Management, Beihang University, Beijing 100191, China"],"affiliations":[{"raw_affiliation_string":"School of Economics and Management, Beihang University, Beijing 100191, China","institution_ids":["https://openalex.org/I82880672"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5113683879","display_name":"Qiu Wan-hua","orcid":null},"institutions":[{"id":"https://openalex.org/I82880672","display_name":"Beihang University","ror":"https://ror.org/00wk2mp56","country_code":"CN","type":"education","lineage":["https://openalex.org/I82880672"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Wanhua Qiu","raw_affiliation_strings":["School of Economics and Management, Beihang University, Beijing 100191, China"],"affiliations":[{"raw_affiliation_string":"School of Economics and Management, Beihang University, Beijing 100191, China","institution_ids":["https://openalex.org/I82880672"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5000483300"],"corresponding_institution_ids":["https://openalex.org/I82880672"],"apc_list":{"value":2000,"currency":"CHF","value_usd":2165},"apc_paid":{"value":2000,"currency":"CHF","value_usd":2165},"fwci":0.9599,"has_fulltext":true,"cited_by_count":21,"citation_normalized_percentile":{"value":0.75518926,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":90,"max":99},"biblio":{"volume":"16","issue":"7","first_page":"3590","last_page":"3604"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9854000210762024,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.9854000210762024,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11413","display_name":"Risk and Portfolio Optimization","score":0.9638000130653381,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11918","display_name":"Forecasting Techniques and Applications","score":0.9236999750137329,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/normative","display_name":"Normative","score":0.6639053821563721},{"id":"https://openalex.org/keywords/expected-utility-hypothesis","display_name":"Expected utility hypothesis","score":0.6060777902603149},{"id":"https://openalex.org/keywords/entropy","display_name":"Entropy (arrow of time)","score":0.585780918598175},{"id":"https://openalex.org/keywords/measure","display_name":"Measure (data warehouse)","score":0.5808919668197632},{"id":"https://openalex.org/keywords/axiom","display_name":"Axiom","score":0.5166507363319397},{"id":"https://openalex.org/keywords/econometrics","display_name":"Econometrics","score":0.5009324550628662},{"id":"https://openalex.org/keywords/dynamic-risk-measure","display_name":"Dynamic risk measure","score":0.49950575828552246},{"id":"https://openalex.org/keywords/mathematical-economics","display_name":"Mathematical economics","score":0.4599766731262207},{"id":"https://openalex.org/keywords/decision-maker","display_name":"Decision maker","score":0.4445202648639679},{"id":"https://openalex.org/keywords/decision-model","display_name":"Decision model","score":0.4389726221561432},{"id":"https://openalex.org/keywords/mathematics","display_name":"Mathematics","score":0.4385783076286316},{"id":"https://openalex.org/keywords/preference","display_name":"Preference","score":0.4310765862464905},{"id":"https://openalex.org/keywords/subjective-expected-utility","display_name":"Subjective expected utility","score":0.41808009147644043},{"id":"https://openalex.org/keywords/risk-measure","display_name":"Risk measure","score":0.3958129286766052},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.3627430200576782},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.24647948145866394},{"id":"https://openalex.org/keywords/statistics","display_name":"Statistics","score":0.24168998003005981},{"id":"https://openalex.org/keywords/operations-research","display_name":"Operations research","score":0.17084601521492004},{"id":"https://openalex.org/keywords/data-mining","display_name":"Data mining","score":0.13005971908569336},{"id":"https://openalex.org/keywords/financial-economics","display_name":"Financial economics","score":0.0878172516822815},{"id":"https://openalex.org/keywords/epistemology","display_name":"Epistemology","score":0.08731603622436523},{"id":"https://openalex.org/keywords/physics","display_name":"Physics","score":0.06985139846801758}],"concepts":[{"id":"https://openalex.org/C44725695","wikidata":"https://www.wikidata.org/wiki/Q288156","display_name":"Normative","level":2,"score":0.6639053821563721},{"id":"https://openalex.org/C205706631","wikidata":"https://www.wikidata.org/wiki/Q2319304","display_name":"Expected utility hypothesis","level":2,"score":0.6060777902603149},{"id":"https://openalex.org/C106301342","wikidata":"https://www.wikidata.org/wiki/Q4117933","display_name":"Entropy (arrow of time)","level":2,"score":0.585780918598175},{"id":"https://openalex.org/C2780009758","wikidata":"https://www.wikidata.org/wiki/Q6804172","display_name":"Measure (data warehouse)","level":2,"score":0.5808919668197632},{"id":"https://openalex.org/C167729594","wikidata":"https://www.wikidata.org/wiki/Q17736","display_name":"Axiom","level":2,"score":0.5166507363319397},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.5009324550628662},{"id":"https://openalex.org/C167548438","wikidata":"https://www.wikidata.org/wiki/Q5319012","display_name":"Dynamic risk measure","level":4,"score":0.49950575828552246},{"id":"https://openalex.org/C144237770","wikidata":"https://www.wikidata.org/wiki/Q747534","display_name":"Mathematical economics","level":1,"score":0.4599766731262207},{"id":"https://openalex.org/C2986080485","wikidata":"https://www.wikidata.org/wiki/Q1331926","display_name":"Decision maker","level":2,"score":0.4445202648639679},{"id":"https://openalex.org/C59594135","wikidata":"https://www.wikidata.org/wiki/Q5249242","display_name":"Decision model","level":2,"score":0.4389726221561432},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.4385783076286316},{"id":"https://openalex.org/C2781249084","wikidata":"https://www.wikidata.org/wiki/Q908656","display_name":"Preference","level":2,"score":0.4310765862464905},{"id":"https://openalex.org/C136028653","wikidata":"https://www.wikidata.org/wiki/Q1425777","display_name":"Subjective expected utility","level":3,"score":0.41808009147644043},{"id":"https://openalex.org/C2781472820","wikidata":"https://www.wikidata.org/wiki/Q2154759","display_name":"Risk measure","level":3,"score":0.3958129286766052},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.3627430200576782},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.24647948145866394},{"id":"https://openalex.org/C105795698","wikidata":"https://www.wikidata.org/wiki/Q12483","display_name":"Statistics","level":1,"score":0.24168998003005981},{"id":"https://openalex.org/C42475967","wikidata":"https://www.wikidata.org/wiki/Q194292","display_name":"Operations research","level":1,"score":0.17084601521492004},{"id":"https://openalex.org/C124101348","wikidata":"https://www.wikidata.org/wiki/Q172491","display_name":"Data mining","level":1,"score":0.13005971908569336},{"id":"https://openalex.org/C106159729","wikidata":"https://www.wikidata.org/wiki/Q2294553","display_name":"Financial economics","level":1,"score":0.0878172516822815},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.08731603622436523},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.06985139846801758},{"id":"https://openalex.org/C2780821815","wikidata":"https://www.wikidata.org/wiki/Q5340806","display_name":"Portfolio","level":2,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C2524010","wikidata":"https://www.wikidata.org/wiki/Q8087","display_name":"Geometry","level":1,"score":0.0},{"id":"https://openalex.org/C62520636","wikidata":"https://www.wikidata.org/wiki/Q944","display_name":"Quantum mechanics","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.3390/e16073590","is_oa":true,"landing_page_url":"https://doi.org/10.3390/e16073590","pdf_url":"https://www.mdpi.com/1099-4300/16/7/3590/pdf?version=1424785551","source":{"id":"https://openalex.org/S195231649","display_name":"Entropy","issn_l":"1099-4300","issn":["1099-4300"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Entropy","raw_type":"journal-article"},{"id":"pmh:oai:doaj.org/article:be59066d6c0a4663a20baa4920baa37e","is_oa":true,"landing_page_url":"https://doaj.org/article/be59066d6c0a4663a20baa4920baa37e","pdf_url":null,"source":{"id":"https://openalex.org/S112646816","display_name":"SHILAP Revista de lepidopterolog\u00eda","issn_l":"0300-5267","issn":["0300-5267","2340-4078"],"is_oa":true,"is_in_doaj":true,"is_core":false,"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Entropy, Vol 16, Iss 7, Pp 3590-3604 (2014)","raw_type":"article"},{"id":"pmh:oai:mdpi.com:/1099-4300/16/7/3590/","is_oa":true,"landing_page_url":"https://dx.doi.org/10.3390/e16073590","pdf_url":null,"source":{"id":"https://openalex.org/S4306400947","display_name":"MDPI (MDPI AG)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I4210097602","host_organization_name":"Multidisciplinary Digital Publishing Institute (Switzerland)","host_organization_lineage":["https://openalex.org/I4210097602"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Entropy; Volume 16; Issue 7; Pages: 3590-3604","raw_type":"Text"}],"best_oa_location":{"id":"doi:10.3390/e16073590","is_oa":true,"landing_page_url":"https://doi.org/10.3390/e16073590","pdf_url":"https://www.mdpi.com/1099-4300/16/7/3590/pdf?version=1424785551","source":{"id":"https://openalex.org/S195231649","display_name":"Entropy","issn_l":"1099-4300","issn":["1099-4300"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Entropy","raw_type":"journal-article"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/16","display_name":"Peace, Justice and strong institutions","score":0.7799999713897705}],"awards":[{"id":"https://openalex.org/G2087396116","display_name":null,"funder_award_id":"China","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"},{"id":"https://openalex.org/G3085993365","display_name":null,"funder_award_id":"(Grant No.","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"},{"id":"https://openalex.org/G3317480652","display_name":null,"funder_award_id":"Science","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"},{"id":"https://openalex.org/G5994120800","display_name":null,"funder_award_id":"Natural","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"},{"id":"https://openalex.org/G7726157001","display_name":null,"funder_award_id":"Grant No.","funder_id":"https://openalex.org/F4320321001","funder_display_name":"National Natural Science Foundation of China"}],"funders":[{"id":"https://openalex.org/F4320321001","display_name":"National Natural Science Foundation of China","ror":"https://ror.org/01h0zpd94"},{"id":"https://openalex.org/F4320332688","display_name":"University of California, Irvine","ror":"https://ror.org/04gyf1771"}],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2007356320.pdf","grobid_xml":"https://content.openalex.org/works/W2007356320.grobid-xml"},"referenced_works_count":26,"referenced_works":["https://openalex.org/W170843511","https://openalex.org/W1540826000","https://openalex.org/W1968864626","https://openalex.org/W1969517494","https://openalex.org/W1989922519","https://openalex.org/W1995875735","https://openalex.org/W2018062474","https://openalex.org/W2026651188","https://openalex.org/W2042353101","https://openalex.org/W2051696423","https://openalex.org/W2055632733","https://openalex.org/W2067435104","https://openalex.org/W2076018374","https://openalex.org/W2079447760","https://openalex.org/W2090185959","https://openalex.org/W2120087526","https://openalex.org/W2133469585","https://openalex.org/W2144846366","https://openalex.org/W2263314900","https://openalex.org/W2333311386","https://openalex.org/W2481905440","https://openalex.org/W2797013687","https://openalex.org/W3011865677","https://openalex.org/W4235007239","https://openalex.org/W6660536957","https://openalex.org/W6693196968"],"related_works":["https://openalex.org/W3125265748","https://openalex.org/W2134744124","https://openalex.org/W3180712247","https://openalex.org/W2197677645","https://openalex.org/W2951963034","https://openalex.org/W2390529924","https://openalex.org/W3123993117","https://openalex.org/W1913405677","https://openalex.org/W3122440621","https://openalex.org/W2998948027"],"abstract_inverted_index":{"Yang":[0],"and":[1,35,60,70,73,82,122],"Qiu":[2],"proposed":[3],"an":[4,13,137],"expected":[5,58],"utility-entropy":[6],"(EU-E)":[7],"measure":[8,67,79,88],"of":[9,44,68,80,89,118,130],"risk,":[10],"which":[11,39,126],"reflects":[12],"individual\u2019s":[14],"intuitive":[15,138],"attitude":[16],"toward":[17],"risk.":[18],"Luce":[19],"et":[20],"al.":[21],"have":[22],"derived":[23],"the":[24,42,45,54,65,76,99,128],"numerical":[25],"representations":[26],"under":[27,95],"behavioral":[28],"axioms":[29],"about":[30],"preference":[31],"orderings":[32],"among":[33],"gambles":[34],"their":[36],"joint":[37],"receipt,":[38],"further":[40],"demonstrates":[41],"reasonability":[43],"EU-E":[46,66,78,87,101],"decision":[47,71,83,102],"model":[48,103,109],"as":[49],"a":[50,106],"normative":[51,93],"one.":[52],"In":[53],"paper,":[55],"combining":[56],"normalized":[57,77,86,100],"utility":[59],"entropy":[61],"together,":[62],"we":[63],"improve":[64],"risk":[69,81,90],"model,":[72,115],"then":[74],"propose":[75],"model.":[84],"The":[85],"has":[91],"some":[92,111],"properties":[94],"certain":[96],"conditions.":[97],"Moreover,":[98],"can":[104,133],"be":[105,134],"proper":[107],"descriptive":[108],"to":[110],"extent.":[112],"Using":[113],"this":[114],"two":[116],"cases":[117],"common":[119,123],"ratio":[120],"effect":[121],"consequence":[124],"effect,":[125],"are":[127],"examples":[129],"certainty":[131],"effects,":[132],"explained":[135],"in":[136],"way.":[139]},"counts_by_year":[{"year":2026,"cited_by_count":1},{"year":2025,"cited_by_count":1},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":4},{"year":2020,"cited_by_count":4},{"year":2019,"cited_by_count":3},{"year":2018,"cited_by_count":2},{"year":2017,"cited_by_count":3},{"year":2016,"cited_by_count":1},{"year":2015,"cited_by_count":1}],"updated_date":"2026-04-02T15:55:50.835912","created_date":"2016-06-24T00:00:00"}