نتایج جستجو برای: morgenstern family
تعداد نتایج: 420655 فیلتر نتایج به سال:
This paper extends the expected utility models of decision making under risk and under uncertainty to include incomplete beliefs and tastes. The main results are two axiomatizations of the multiprior expected multi-utility representations of preference relation under uncertainty, thereby resolving long standing open questions. The Knightian uncertainty model and expected multi-utility model wit...
Salvador Cruz-Flores, MD, MPH, FAHA, Chair; Alejandro Rabinstein, MD, Vice Chair; Jose Biller, MD, FAAN, FAHA; Mitchell S.V. Elkind, MD, MS, FAAN; Patrick Griffith, MD, FAAN; Philip B. Gorelick, MD, MPH, FAAN, FAHA; George Howard, DrPH, FAHA; Enrique C. Leira, MD, MS, FAHA; Lewis B. Morgenstern, MD, FAHA, FAAN; Bruce Ovbiagele, MD, MS, FAHA; Eric Peterson, MD, MPH, FAHA; Wayne Rosamond, PhD, MS...
To allow conditioning on counterfactual events, zero probabilities can be replaced by infinitesimal probabilities that range over a non-Archimedean ordered field. This paper considers a suitable minimal field that is a complete metric space. Axioms similar to those in Anscombe and Aumann (1963) and in Blume, Brandenburger and Dekel (1991) are used to characterize preferences which: (i) reveal u...
Because players whose preferences violate the von Neumann-Morgenstern independence axiom may be unwilling to randomize as mixed-strategy Nash equilibrium would require, a Nash equilibrium may not exist without independence. This paper generalizes Nash’s definition of equilibrium, retaining its rationalexpectations spirit but relaxing its requirement that a player must bear as much uncertainty a...
We characterize when choices among lotteries over arbitrary allocations are monotonic in an expected-utility agent’s type. Our necessary and sufficient condition is on the von Neumann-Morgenstern utility function; we identify an order over lotteries that generates the choice monotonicity when the condition holds. We discuss applications to cheap-talk games, costly signaling games, and collectiv...
Salvador Cruz-Flores, MD, MPH, FAHA, Chair; Alejandro Rabinstein, MD, Vice Chair; Jose Biller, MD, FAAN, FAHA; Mitchell S.V. Elkind, MD, MS, FAAN; Patrick Griffith, MD, FAAN; Philip B. Gorelick, MD, MPH, FAAN, FAHA; George Howard, DrPH, FAHA; Enrique C. Leira, MD, MS, FAHA; Lewis B. Morgenstern, MD, FAHA, FAAN; Bruce Ovbiagele, MD, MS, FAHA; Eric Peterson, MD, MPH, FAHA; Wayne Rosamond, PhD, MS...
Game Theory was founded by von Neumann and Morgenstern and can be defined as the study of mathematical models of interactive decision making. Game Theory provides general mathematical techniques for analyzing situations in which two or more individuals, called players, make decisions that will influence one another’s welfare. The dominant aspect of Game Theory is the belief that each player is ...
In this paper, we investigate the computation of the moments of the compound Poisson sums with discounted claims when introducing dependence between the interclaim time and the subsequent claim size. The dependence structure between the two random variables is defined by a Farlie-Gumbel-Morgenstern copula. Assuming that the claim distribution has finite moments, we give expressions for the firs...
In this paper we study a Markov decision process with a non-linear discount function. Our approach is in spirit of the von Neumann-Morgenstern concept and is based on the notion of expectation. First, we define a utility on the space of trajectories of the process in the finite and infinite time horizon and then take their expected values. It turns out that the associated optimization problem l...
Relative Nash welfarism is a solution to the problem of aggregating von NeumannMorgenstern preferences over a set of lotteries. It ranks such lotteries according to the product of any collection of 0—normalized von Neumann-Morgenstern utilities they generate. We show that this criterion is characterized by the Weak Pareto Principle, Anonymity, and Independence of Harmless Expansions: the social...
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