Results 31 to 40 of about 3,807 (197)

Performance in Multi-Armed Bandit Tasks in Relation to Ambiguity-Preference Within a Learning Algorithm

Frontiers in Applied Mathematics and Statistics, 2018
Ellsberg paradox in decision theory posits that people will inevitably choose a known probability of winning over an unknown probability of winning even if the known probability is low [1].
Song-Ju Kim, Taiki Takahashi
doaj   +1 more source

On the Ellsberg Paradox and its Extension by Machina

SSRN Electronic Journal, 2015
Keiran Sharpe
openaire   +2 more sources

Daniel Ellsberg and the Validation of Normative Propositions

Œconomia, 2016
In the history of decision theory Daniel Ellsberg is known because his seminal paper “Risk, ambiguity and the Savage axioms” presented the counterexample to Bayesian decision-making that got the normative value of the theory into trouble.
Carlo Zappia
doaj   +1 more source

Realistic utility versus game utility: a proposal for dealing with the spread of uncertain prospects

Statistica, 2013
The author develops the properties and implications of a proposal, concerning a summary statistic of the random prospect of utilities. Following a suggestion of Allais, such a statistic is increasing with expected utility, and decreasing – for most ...
Benito Vittorio Frosini
doaj   +1 more source

ELLSBERG’S PARADOX AND THE VALUE OF CHANCES [PDF]

Economics and Philosophy, 2015
Abstract:What value should we put on our chances of obtaining a good? This paper argues that, contrary to the widely accepted theory of von Neumann and Morgenstern, the value of a chance of some good G may be a non-linear function of the value of G.
openaire   +2 more sources

Revisiting Ellsberg’s and Machina’s Paradoxes: A Two-Stage Evaluation Model Under Ambiguity [PDF]

Management Science, 2021
In this paper, a two-stage evaluation (TSE) model for decision making under ambiguity is proposed. Events in state space are classified into risky and ambiguous events, which correspond to different types of uncertainty generated by different sources.
openaire   +1 more source

Partially Unforeseen Events. Corrections and Correcting Formulae for Forecasts [PDF]

Expert Journal of Economics, 2014
A hypothesis of uncertain future was created and first applied in the field of utility and prospect theories. An extension of application of the hypothesis to the field of forecasting is considered in the article.
Alexander HARIN
doaj  

Expected utility theory, Jeffrey’s decision theory, and the paradoxes [PDF]

, 2020
In Richard Bradley’s book, Decision Theory with a Human Face, we have selected two themes for discussion. The first is the Bolker-Jeffrey theory of decision, which the book uses throughout as a tool to reorganize the whole field of decision theory, and ...
Baccelli, Jean, Mongin, Philippe
core  

An interpretation of Ellsberg’s Paradox based on information and incompleteness [PDF]

Economic Theory Bulletin, 2013
This note relates ambiguity aversion and private information, by offering an interpretation of the Ellsberg’s paradox in terms of incompleteness of preferences. We adopt the standard model of information in terms of a \(\sigma \)-algebra \(\Sigma \) of events.
Luciano De Castro, Nicholas C. Yannelis
openaire   +2 more sources

Disguising the Familiar: Considering Internal Confidentiality in Individual Interviews With Partners and Families

Journal of Family Theory &Review, EarlyView.
ABSTRACT This article draws attention to the ethical and methodological complexities of internal confidentiality in family research and provides field‐specific recommendations. Conducting individual (rather than joint) interviews with partners or multiple members of the same family is common but poses significant challenges around internal ...
Susie Bower‐Brown, Clare Stovell
wiley   +1 more source