Peter G. Moore

Utility and its Measurement

SUMMARY The different methods which have been suggested for measuring unidimensional and multidimensional utility functions in business and related fields are described and discussed. The factors which should influence the measurement method chosen in a given decision-making situation are explicitly considered. The concept of group utility and the procedures which exist for formulating a coherent risk policy for a whole organization are described. Several practical applications of utility theory are given and conclusions reached as to those areas where further research is needed.

The Development of the UK National Lottery: 1992–96

This paper outlines the build-up of the National Lottery launch, from the government 1992 white paper, the subsequent Parliamentary procedures leading to the National Lottery Act, the choice of Camelot as the operator in May 1994 and the nationwide launch of the lottery in November 1994. The paper outlines the achievements of the lottery and some longer-term issues that it faces.

Gambling And The UK National Lottery

The British National Lottery has now been running for almost three years and it arouses social and ethical misgivings in several quarters, whether in its contribution to the British gambling scene or in the size and distribution of its prizes or in its contributions to the good causes which it was introduced to benefit. Bringing wide experience and an expert eye to analyse and comment on the lottery, Dr Moore, DSc PhD FIA, is Emeritus Professor of Decision Sciences at London Business School, Sussex Place, Regent’s Park, London NW1 4SA.

University Financing, 1979-86.

In the summer of 1986, universities found themselves in a serious situation, the seeds for which had been sown some quarter of a century earlier. Immediately after the Second World War moderate but steady growth had occurred in the university sector, numbers reaching a plateau at the end of the fifties. The general feeling around 1960, shared by both the major political parties, was that considerably more needed to be done in the tertiary education field if Britain was to maintain its position as one of the leading developed nations. It seemed, moreover, a natural consequence of the effects of the wartime Butler Education Act that universities should respond to the impetus that had developed in the schools since 1944. Both teachers and pupils had indeed come to expect that places in tertiary education should expand to match the numbers fit to fill them; moreover those places should be available in the subjects desired by the students themselves. The motive power for the enhanced demand that was then sense...