Results 1 to 10 of about 973,446 (295)
Boundedly rational expected utility theory. [PDF]
J Risk Uncertain, 2018 We build a satisficing model of choice under risk which embeds Expected Utility Theory (EUT) into a boundedly rational deliberation process. The decision maker accumulates evidence for and against alternative options by repeatedly sampling from her underlying set of EU preferences until the evidence favouring one option satisfies her desired level of ...
Navarro-Martinez D +4 more
europepmc +9 more sources
Range dependent expected utility theory based model for NIMBY conflicts in China: An evolutionary game analysis [PDF]
PLoS ONE, 2022 In recent years, NIMBY(Not In My Backyard) conflicts gradually become hot and difficult in the international community governance, people have realized that the government and people on both sides of the emotional factors have great influences on the ...
Hui Zhao, Weihan Wang, Mengran Zhang
doaj +3 more sources
Can Expected Utility Theory Explain Gambling? [PDF]
American Economic Review, 2002 We investigate the ability of expected utility theory to account for simultaneous gambling and insurance. Contrary to a previous claim that borrowing and lending in perfect capital markets removes the demand for gambles, we show expected utility theory with nonconcave utility functions can explain gambling.
Hartley, Roger, Farrell, Lisa
openaire +7 more sources
Subjective Expected Utility Theory with 'Small Worlds' [PDF]
SSRN Electronic Journal, 2009 We model the notion of a “small world” as a context dependent state space embedded into the “grand world”. For each situation the decision maker creates a “small world” reflecting the events perceived to be relevant for the act under consideration. The “grand world” is represented by an event space which is a more general construction than a state ...
Gyntelberg, Jacob, Hansen, Frank
openaire +4 more sources
Stochastic expected utility theory [PDF]
Journal of Risk and Uncertainty, 2007 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Blavatskyy, Pavlo
openaire +5 more sources
NON-EXPECTED UTILITY THEORIES: WEIGHTED EXPECTED, RANK DEPENDENT, AND CUMULATIVE PROSPECT THEORY UTILITY [PDF]
, 2002 This paper discusses some of the failings of expected utility including the Allais paradox and expected utility's inadequate one dimensional characterization of risk. Three alternatives to expected utility are discussed at length; weighted expected utility, rank dependent utility, and cumulative prospect theory.
Tuthill, Jonathan W. +3 more
core +4 more sources
Preferences for rank in competition: Is first-place seeking stronger than last-place aversion? [PDF]
Judgment and Decision Making, 2020 The use of gamification to motivate engagement has greatly increased the number of ways in which people compete. Many of these competitions allow individuals to see how they rank as a competition progresses.
Steven M. Shechter, David J. Hardisty
doaj +2 more sources
Developing Prospect Theory with Multiple Reference Points in Decision Making [PDF]
مدیریت صنعتی, 2022 Objective: Multi-attribute utility theory is one of the approaches in multi-attribute decision-making. It is developed based on the logic of the expected utility theory. The main difference between the methods derived from the expected utility theory and
Zahra Nemati +2 more
doaj +1 more source
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
openaire +2 more sources
Risk and Expected Utility Theory [PDF]
, 2009 The paper re-expresses and complements arguments against the normative validity of expected utility theory in Robin Pope (1983, 1991a, 1991b, 1985, 1995, 2000, 2001, 2005,2006, 2007). The objections concern the neglect of the evolving stages of knowledge ahead (stages of what the future will bring) when such evolution is fundamental to an experience of
Robin Pope, Reinhard Selten
openaire +3 more sources