Results 21 to 30 of about 1,764,628 (294)
A Generalization of Quantal Response Equilibrium via Perturbed Utility
Games, 2021 We present a tractable generalization of quantal response equilibrium via non-expected utility preferences. In particular, we introduce concave perturbed utility games in which an individual has strategy-specific utility indices that depend on the ...
Roy Allen, John Rehbeck
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Testing Hurwicz Expected Utility
Econometrica, 2023 Gul and Pesendorfer (2015) propose a promising theory of decision under uncertainty, they dub Hurwicz expected utility (HEU). HEU is a special case of α‐maxmin EU that allows for preferences over sources of uncertainty. It is consistent with most of the available empirical evidence on decision under risk and uncertainty.
Bleichrodt, Han +2 more
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Normalized Expected Utility-Entropy Measure of Risk
Entropy, 2014 Yang and Qiu proposed an expected utility-entropy (EU-E) measure of risk, which reflects an individual’s intuitive attitude toward risk. Luce et al.
Jiping Yang, Wanhua Qiu
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Justifying conditionalization: Conditionalization maximizes expected epistemic utility [PDF]
, 2005 According to Bayesian epistemology, the epistemically rational agent updates her beliefs by conditionalization: that is, her posterior subjective probability after taking account of evidence X, p_{new}, is to be set equal to her prior conditional ...
Greaves, Hilary, Wallace, David
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Expected Uncertain Utility Theory [PDF]
Econometrica, 2014 The new Expected Uncertain Utility (EUU) theory is introduced and analyzed. According to this theory each decision maker has a prior \(\mu\) on a \(\sigma\)-algebra \(\mathcal{E}\) and an interval utility \(u=u(x,y)\). Each act \(f\) can be ideal or non-ideal. Ideal act is \(\mathcal{E}\)-measurable.
Gul, Faruk, Pesendorfer, Wolfgang
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Expected utility for probabilistic prospects and the common ratio property [PDF]
Yugoslav Journal of Operations Research, 2023 We prove the existence of an expected utility function for preferences over probabilistic prospects satisfying Strict Monotonicity, Indifference, the Common Ratio Property, Substitution and Reducibility of Extreme Prospects.
Lahiri Somdeb
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Subjective recursive expected utility [PDF]
Economic Theory, 2004 An axiomatic definition of the subjective recursive expected utility (SREU) is described and provided. It is an extension of results given in [\textit{D. M. Kreps, E. L. Porteus}, Econometrica 46, 185--200 (1978; Zbl 0382.90006)]. All proofs are given in the appendix. It is an important generalization of the particular definition of the SREU.
Ozdenoren, Emre, Klibanoff, Peter
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Subjective Expected Utility with State-Dependent but Action/Observation-Independent Preferences
Risks, 2018 Under state-dependent preferences, probabilities and units of scale of state-dependent utilities are not separately identified. In standard models, only their products matter to decisions.
Jacques H. Drèze
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Mean-Variance and Expected Utility: The Borch Paradox [PDF]
, 2013 The model of rational decision-making in most of economics and statistics is expected utility theory (EU) axiomatised by von Neumann and Morgenstern, Savage and others.
Johnstone, David, Lindley, Dennis
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Utilitarianism with and without expected utility [PDF]
, 2020 We give two social aggregation theorems under conditions of risk, one for constant population cases, the other an extension to variable populations. Intra and interpersonal welfare comparisons are encoded in a single ‘individual preorder’.
McCarthy, David +2 more
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