Decision analysis using targets instead of utility functions
نویسندگان
چکیده
منابع مشابه
Decision analysis using targets instead of utility functions
A common precept of decision analysis under uncertainty is the choice of an action which maximizes the expected value of a utility function. Savage’s (1954) axioms for subjective expected utility provide a normative foundation for this principle of choice. This paper shows that the same set of axioms implies that one should select an action which maximizes the probability of meeting an uncertai...
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ژورنال
عنوان ژورنال: Decisions in Economics and Finance
سال: 2000
ISSN: 1593-8883,1129-6569
DOI: 10.1007/s102030050005