Arbeitspapier
A new approach to modeling decision-making under uncertainty and defining subjective probabilities
This paper presents axiomatic models of decision making under uncertainty that avoid the use of a state space. The models are (a) general subjective expected utility theory with action-dependent subjective probabilities and effect-dependent utilities (the cases of effect-independent preferences and effect-independent valuations are obtained as special instances) and (b) a nonexpected utility theory involving well-defined families of action-dependent subjective probabilities on effects and utility representation that is not necessarily linear in these probabilities (a probabilistic sophistication version of this model, with action-dependent subjective probabilities is obtained as a special case)
- Sprache
-
Englisch
- Erschienen in
-
Series: Working Paper ; No. 519
- Klassifikation
-
Wirtschaft
Criteria for Decision-Making under Risk and Uncertainty
Asymmetric and Private Information; Mechanism Design
Economics of Contract: Theory
- Thema
-
Expected utility with action-dependent subjective probabilities and effect-dependent utility
probabilistically sophisticated choice
Erwartungsnutzen
Entscheidung bei Unsicherheit
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Karni, Edi
- Ereignis
-
Veröffentlichung
- (wer)
-
The Johns Hopkins University, Department of Economics
- (wo)
-
Baltimore, MD
- (wann)
-
2005
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Karni, Edi
- The Johns Hopkins University, Department of Economics
Entstanden
- 2005
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