A new approach to modeling decision-making under uncertainty (Q2385111)

The paper under review deals with the methods of decision-making under uncertainty, namely with those which avoid the use of a state space. The main contributions of the presented model and results can be summarized in two axiomatic systems. The first one deals with general subjective expected utility theory with action-dependent subjective probabilities and effect dependent utilities. The second one regards the nonexpected utility theory involving well-defined families of action-dependent subjective probabilities on effect and utility representations. The theorems formulated in the paper analyze the preference relation defined by the suggested axioms.