Subjective probabilities for state dependent continuous utility
نویسندگان
چکیده
منابع مشابه
Reference-dependent subjective expected utility
A reference-dependent generalisation of subjective expected utility theory is presented. In this theory, preferences between acts depend both on final outcomes and on reference points (which may be uncertain acts). It is characterised by a set of axioms in a Savage-style framework. A restricted form of the theory separates attitudes to end states (encoded in a ‘satisfaction function’) from atti...
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We develop awareness-dependent subjective expected utility by taking unawareness structures introduced in Heifetz, Meier, and Schipper (2006, 2008, 2009) as primitives in the Anscombe-Aumann approach to subjective expected utility. We observe that a decision maker is unaware of an event if and only if her choices reveal that the event is “null” and the negation of the event is “null”. Moreover,...
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Acts are functions from the set of states of the world into the set of consequences. Savage proposed axioms regarding a binary relation on the set of acts which are necessary and sufftcient for it to be representable by the functional gu(.)dP for some real-valued (utility) function u on the set of consequences and a (probability) measure P on the set of states of the world. The Ellsberg paradox...
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Gambles are recursively generated from pure payoffs, events, and other gambles, and a preference order over them is assumed. Weighted average utility representations are studied that are strictly increasing in each payoff and for which the weights depend both on the events underlying the gamble and the preference ranking over the several component payoffs. Basically two results are derived: a c...
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ژورنال
عنوان ژورنال: Mathematical Social Sciences
سال: 1987
ISSN: 0165-4896
DOI: 10.1016/0165-4896(87)90007-2