A general theory of measurement applications to utility

By Johann Pfanzag. 1959

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Variational Bayesian Reinforcement Learning with Regret Bounds (2018, background): “The choice of the exponential utility may seem arbitrary, but in fact it is the unique utility function that has the property that the certainty equivalent value of the sum of two independent random variables is equal to the sum of their certainty equivalent values [1, 44, 20, 46].”
Invariant Utility Functions and Certain Equivalent Transformations (2007, methodology): “We observe that previous literature on invariance to shift transformations (Pfanzagl 1959) derived solutions that are invariant to values of on an interval of positive length.”