Results 241 to 250 of about 973,446 (295)
Collaborative strategies for planning post-earthquake waste disposal facilities: a bounded rationality perspective. [PDF]
Sci RepYang Q, Liu S, Zhang F, Cao C, Liang L.
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SSRN Electronic Journal, 2007
This is a chapter for the forthcoming Handbook of Rational and Social Choice, Paul Anand, Prasanta Pattanaik, and Clemens Puppe, eds., Oxford University Press, 2008. We review classic normative expected utility theory. Our goal is to frame the subsequent chapters (which consider more modern extensions to and deviations from this classic theory) in a ...
Simon Harold Grant, Timothy Van Zandt
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This is a chapter for the forthcoming Handbook of Rational and Social Choice, Paul Anand, Prasanta Pattanaik, and Clemens Puppe, eds., Oxford University Press, 2008. We review classic normative expected utility theory. Our goal is to frame the subsequent chapters (which consider more modern extensions to and deviations from this classic theory) in a ...
Simon Harold Grant, Timothy Van Zandt
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Coalitional Expected Multi‐Utility Theory
Econometrica, 2019This paper begins by observing that any reflexive binary (preference) relation (over risky prospects) that satisfies the independence axiom admits a form of expected utility representation. We refer to this representation notion as the coalitional minmax expected utility representation.
Hara, Kazuhiro, Ok, Efe A., Riella, Gil
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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 ...
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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 ...
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1998
Although we focus in Chap. 1 on various definitions of risk, recall that in the eyes of the investor, profitability is probably the main raison d’etre of investment. Thus, focusing on risk in our first chapter, by no means do we belittle this all-important function of investment. Our discussion of risk simply serves to emphasize that, in arriving at an
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Although we focus in Chap. 1 on various definitions of risk, recall that in the eyes of the investor, profitability is probably the main raison d’etre of investment. Thus, focusing on risk in our first chapter, by no means do we belittle this all-important function of investment. Our discussion of risk simply serves to emphasize that, in arriving at an
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1993
In ch. 2, I assumed expected utility theory in order to argue for utilitarianism. Here, I defend that theory. When an outcome is uncertain, the theory requires that we multiply its utility by its probability. This simple idea is analogous to computing the expected value of a gamble.
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In ch. 2, I assumed expected utility theory in order to argue for utilitarianism. Here, I defend that theory. When an outcome is uncertain, the theory requires that we multiply its utility by its probability. This simple idea is analogous to computing the expected value of a gamble.
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Expected Utility Theory with "Small Worlds" [PDF]
, 2004 expected utility, decision making under ...
Gyntelberg, J., Hansen, Frank
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Expected Comparative Utility Theory
SSRN Electronic Journal, 2017This paper proposes a new theory of rational choice. Contra standard decision theory, this paper roughly argues that an agent should rank her choice options (in terms of how choiceworthy they are) according to their expected comparative utility. For any number of alternative options, a, b, c, d and e, the expected comparative utility of a is the ...
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1980
The case of decision making under risk is one in which considerable consensus exists among decision experts as to how one ought to choose. The theory advises which alternative to select in complex decision situations on the basis of one’s basic taste and preferences about risk and the intrinsic value of the attribute(s) under consideration.
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The case of decision making under risk is one in which considerable consensus exists among decision experts as to how one ought to choose. The theory advises which alternative to select in complex decision situations on the basis of one’s basic taste and preferences about risk and the intrinsic value of the attribute(s) under consideration.
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