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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Clarifying the role of an unavailable distractor in human multiattribute choice
eLife, 2022 Decisions between two economic goods can be swayed by a third unavailable ‘decoy’ alternative, which does not compete for choice, notoriously violating the principles of rational choice theory.
Yinan Cao, Konstantinos Tsetsos
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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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Input-dependent noise can explain magnitude-sensitivity in optimal value-based decision-making [PDF]
Judgment and Decision Making, 2021 Recent work has derived the optimal policy for two-alternative value-based decisions, in which decision-makers compare the subjective expected reward of two alternatives. Under specific task assumptions --- such as linear utility, linear cost of time and
Angelo Pirrone +2 more
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Evolutionary Random Access Game With Objective and Subjective Players
IEEE Access, 2021 We consider an evolutionary game on a graph under the condition that players perception of uncertainty and decision making can follow either an objective expected utility theory (EUT) model or a subjective prospect theory (PT) model.
Ahmed A. Alabdel Abass +2 more
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Quantifying Risk Perception: The Entropy Decision Risk Model Utility (EDRM-U)
Systems, 2020 Risk perception can be quantified in measurable terms of risk aversion and sensitivity. While conducting research on the quantization of programmatic risk, a bridge between positive and normative decision theories was discovered through the application ...
Thomas Monroe +2 more
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Evaluating the utility of two gestural discomfort evaluation methods. [PDF]
PLoS ONE, 2017 Evaluating physical discomfort of designed gestures is important for creating safe and usable gesture-based interaction systems; yet, gestural discomfort evaluation has not been extensively studied in HCI, and few evaluation methods seem currently ...
Minseok Son, Jaemoon Jung, Woojin Park
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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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