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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)]. We incorporate this Waldean piece
Cerreia-Vioglio S +3 more
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Subjective expected utility through stochastic independence
Economic Theory, 2022 zbMATH Open Web Interface contents unavailable due to conflicting licenses.
Michel Grabisch
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Subjective expected utility without preferences [PDF]
Journal of Mathematical Psychology, 2011 This paper deals with the problem of representation of decision making by expected utilities. It discusses the relation between trade off consistency and the identification of attractive sets in terms of a linear combination of utilities.
Thierry Marchant, Denis Bouyssou
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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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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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Subjective recursive expected utility [PDF]
Economic Theory, 2004 We axiomatize a subjective version of the recursive expected utility model. This development extends the seminal results of Kreps and Porteus (1978) to a subjective framework and provides foundations that are easy to relate to axioms familiar from timeless models of decision making under uncertainty.
Peter Klibanoff, Emre Ozdenoren
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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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