Results 271 to 280 of about 494,164 (308)
Expected Utility: Weak and Strong [PDF]
SSRN Electronic JournalSummary: In this paper we show that, given a monotone preference order that satisfies weak independence, the expected utility model (as a \textit{weak} or \textit{strong} representation) can be directly obtained from intuitive conditions. In particular, a weak expected utility representation can be constructed by using \textit{substitutability}, while ...
openaire +1 more source
Some of the next articles are maybe not open access.
Related searches:
Related searches:
1987
The expected utility hypothesis of behaviour towards risk is essentially the hypothesis that the individual decision–maker possesses (or acts as if possessing) a ‘von Neumann-Morgenstern utility function’ U(·) or ‘von Neumann-Morgenstern utility index’ {Ui} defined over some set of outcomes, and when faced with alternative risky prospects or ‘lotteries’
openaire +1 more source
The expected utility hypothesis of behaviour towards risk is essentially the hypothesis that the individual decision–maker possesses (or acts as if possessing) a ‘von Neumann-Morgenstern utility function’ U(·) or ‘von Neumann-Morgenstern utility index’ {Ui} defined over some set of outcomes, and when faced with alternative risky prospects or ‘lotteries’
openaire +1 more source
2008
The expected utility/subjective probability model of risk preferences and beliefs has long been the preeminent model of individual choice under conditions of uncertainty. It exhibits a tremendous flexibility in representing aspects of attitudes toward risk, has a well-developed analytical structure, and has been applied to the analysis of gambling ...
openaire +1 more source
The expected utility/subjective probability model of risk preferences and beliefs has long been the preeminent model of individual choice under conditions of uncertainty. It exhibits a tremendous flexibility in representing aspects of attitudes toward risk, has a well-developed analytical structure, and has been applied to the analysis of gambling ...
openaire +1 more source
A Study of Lexicographic Expected Utility
Management Science, 1971A relation <L on a set of real vectors a, b, … is a lexicographic order when a <Lb if and only if a ≠ b and for every j such that bj < aj there is an i < j such that ai < bi. A simple and direct derivation is given for a multidimensional utility function whose lexicographically-ordered expected utility vectors preserve an individual's ...
openaire +1 more source
Are small groups expected utility? [PDF]
, 2012 In this paper we analyse the empirical performance of several preference functionals using individual and group data. Our investigation aims to address two fundamental questions that have, until now, not been addressed in literature. Specifically, we intend to assess if there exists a risky choice theory that statistically fits group decisions ...
Andrea Morone, Piergiuseppe Morone
openaire +1 more source
Lifted Maximum Expected Utility
2019The lifted junction tree algorithm (LJT) answers multiple queries efficiently for relational models under uncertainties by building and then reusing a first-order cluster representation. We extend the underling model representation of LJT, which is called parameterised probabilistic model, to calculate a lifted solution to the maximum expected utility (
Marcel Gehrke +5 more
openaire +1 more source
On Expected Utility Under Ambiguity
2019The paper introduces a new approach to constructing models exhibiting the ambiguity aversion. The level of ambiguity aversion is described by a subjective parameter from the unit interval with the semantics: the higher the aversion, the higher the coefficient.
Radim Jirousek, Václav Kratochvíl
openaire +1 more source
Mean–variance approximations to expected utility
European Journal of Operational Research, 2014Harry Markowitz
exaly
Nonparametric Test of the Expected Utility Hypothesis
American Journal of Agricultural Economics, 1992Ziv Bar-Shira
exaly