Arbeitspapier
Awareness-dependent subjective expected utility
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. We observe that a decision maker is unaware of an event if and only if her choices reveal that the event is null and the negation of the event is null. Moreover, we characterize impersonal expected utility that is behaviorally indistinguishable from awareness-dependent subject expected utility and assigns probability zero to some subsets of states that are not necessarily events. We discuss in what sense probability zero can model unawareness.
- Language
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Englisch
- Bibliographic citation
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Series: Working Paper ; No. 10-22
- Classification
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Wirtschaft
Game Theory and Bargaining Theory: General
Noncooperative Games
Information, Knowledge, and Uncertainty: General
Criteria for Decision-Making under Risk and Uncertainty
- Subject
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unawareness
awareness
unforeseen contingencies
null
probability
zero
subjective expected utility
Anscombe-Aumann
small worlds
- Event
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Geistige Schöpfung
- (who)
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Schipper, Burkhard C.
- Event
-
Veröffentlichung
- (who)
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University of California, Department of Economics
- (where)
-
Davis, CA
- (when)
-
2011
- Handle
- Last update
-
10.03.2025, 11:42 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Schipper, Burkhard C.
- University of California, Department of Economics
Time of origin
- 2011
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