Utility functions need not relate to $ values. Here is a problem in which we know little about five abstract outcomes. What is important, however, is that a person who does know what F to J represent should be able to compare the outcomes using the lottery procedures we have studied. A decision maker faces a risky gamble in which she may obtain one of five outcomes. Label them F, G, H, I, and J. F is the most preferred, and J is least preferred. She has made the following three assessments: