Results 1 to 10 of about 392,965 (205)
Classical subjective expected utility. [PDF]
Proc Natl Acad Sci U S A, 2013 We consider decision makers who know that payoff-relevant observations are generated by a process that belongs to a given class M , as postulated in Wald [Wald A (1950) Statistical Decision Functions (Wiley, New York)].
Cerreia-Vioglio S +3 more
europepmc +7 more sources
Measuring Belief and Risk Attitude [PDF]
Electronic Proceedings in Theoretical Computer Science, 2019 Ramsey (1926) sketches a proposal for measuring the subjective probabilities of an agent by their observable preferences, assuming that the agent is an expected utility maximizer.
Sven Neth
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Awareness-dependent subjective expected utility [PDF]
SSRN Electronic Journal, 2011 We develop awareness-dependent subjective expected utility by taking unawareness structures introduced in Heifetz, Meier, and Schipper (2006, 2008, 2011a) as primitives in the Anscombe-Aumann approach to subjective expected utility.
Schipper, Burkhard C.
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Subjective Probability and Expected Utility without Additivity [PDF]
Econometrica, 1989 Summary: An act maps states of nature to outcomes: deterministic outcomes as well as random outcomes are included. Two acts f and g are comonotonic, by definition, if it never happens that f(s)\(\succ f(t)\) and g(t)\(\succ g(s)\) for some states of nature s and t. An axiom of comonotonic independence is introduced here.
David Schmeidler
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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.
Frank Hansen, Jacob Gyntelberg
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Continuous subjective expected utility with non-additive probabilities [PDF]
Journal of Mathematical Economics, 1989 A well-known theorem of Debreu about additive representations of preferences is applied in a non-additive context, to characterize continuous subjective expected utility maximization for the case where the probability measures may be non-additive.
Aczél +16 more
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Subjective Expected Utility with Non-Increasing Risk Aversion [PDF]
Annals of Operations Research, 1989 It is shown that assumptions about risk aversion, usually studied under the pre-supposition of expected utility maximization, have a surprising extra merit at an earlier stage of the measurement work: together with the sure-thing principle, these ...
D.H. Krantz +12 more
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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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How do defendants choose their trial court? Evidence for a heuristic processing account [PDF]
Judgment and Decision Making, 2013 In jurisdictions with two or more tiers of criminal courts, some defendants can choose the type of trial court to be tried in. This may involve a trade-off between the probability of acquittal/conviction and the estimated severity of sentence if ...
Mandeep K. Dhami, David R. Mandel
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Socio-Economic Sciences: Beyond Quantum Math-like Formalisms
Quantum Reports, 2021 Since the beginning of the 21st century, a new interdisciplinary research movement has started, which aims at developing quantum math-like (or simply quantum-like) models to provide an explanation for a variety of socio-economic processes and human ...
Vikram Athalye, Emmanuel Haven
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