Expected utility with purely subjective non-additive probabilities

From MaRDI portal
Publication:1095774


DOI10.1016/0304-4068(87)90022-XzbMath0632.90008OpenAlexW2124778546MaRDI QIDQ1095774

Itzhak Gilboa

Publication date: 1987

Published in: Journal of Mathematical Economics (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1016/0304-4068(87)90022-x



Related Items

Prediction of future observations using belief functions: a likelihood-based approach, Reconciling introspective utility with revealed preference: experimental arguments based on prospect theory, Discrete bipolar universal integrals, Preferences over rich sets of random variables: on the incompatibility of convexity and semicontinuity in measure, Rosenthal's inequalities for independent and negatively dependent random variables under sub-linear expectations with applications, Strong laws of large numbers for sub-linear expectations, Expected utility with purely subjective non-additive probabilities, Processing information in quantum decision theory, A simple model of cumulative prospect theory, Investment behavior under ambiguity: the case of pessimistic decision makers, Choquet expected utility with affine capacities, A combination of expected utility and maxmin decision criteria, Continuous subjective expected utility with non-additive probabilities, Decision making over necessity measures through the Choquet integral criterion, Information and ambiguity: herd and contrarian behaviour in financial markets, Non-transitive measurable utility for decision under uncertainty, Maxmin expected utility with non-unique prior, Consistent probability attitudes, Purely subjective maxmin expected utility, Put-call parity and market frictions, ``Agreeing to disagree type results under ambiguity, A new model for decisions under uncertainty, Nest-monotonic two-stage acts and exponential probability capacities, Relative concave utility for risk and ambiguity, Asset pricing in a Lucas fruit-tree economy with the best and worst in mind, Dynamically consistent CEU preferences on \(f\)-convex events, Justifying social discounting: the rank-discounted utilitarian approach, Attitudes toward uncertainty and randomization: an experimental study, Ambiguity aversion and trade, Ambiguity aversion and ambiguity content in decision making under uncertainty, On neutrality of preferences on acts with respect to use of proxy outcomes, Transitivity in the small and in the large for states-additive SSB utilities, Duality in non-additive expected utility theory, Anticipated utility: A measure representation approach, Ascending bid auctions with behaviorally consistent bidders, Jaffray's ideas on ambiguity, Utility independence of multiattribute utility theory is equivalent to standard sequence invariance of conjoint measurement, Subjective expected utility without preferences, A decision-theoretic model of asset-price underreaction and overreaction to dividend news, Differentiating ambiguity: an expository note, Identifying quantum structures in the Ellsberg paradox, Rank- and sign-dependent linear utility models for binary gambles, The bipolar Choquet integral representation, Comparative statics for rank-dependent expected utility theory, Rank- and sign-dependent linear utility models for finite first-order gambles, A survey of quantum-like approaches to decision making and cognition, Additive representations on rank-ordered sets. I: The algebraic approach, Exact capacities and star-shaped distorted probabilities, Subjective probabilities and utility with event-dependent preferences, Probabilistically sophisticated rank dependent utility, Effects of uncertainty aversion on the call option market, Coherent Dempster-Shafer equilibrium and ambiguous signals, Dominance conditions in non-additive expected utility theory, A model of random matching, Advances in prospect theory: cumulative representation of uncertainty, Recent developments in modeling preferences: Uncertainty and ambiguity, Ambiguity and decision modeling: A preference-based approach, Expected utility with uncertain probabilities theory, Bayesian learning with multiple priors and nonvanishing ambiguity, Combining additive representations on subsets into an overall representation, From fuzzy set theory to non-additive probabilities: How have economists reacted!, Diversification preferences in the theory of choice, Signal extraction for simulated games with a large number of players, Exponential inequalities under the sub-linear expectations with applications to laws of the iterated logarithm, Multisymmetric structures and non-expected utility, A preference foundation for Fehr and Schmidt's model of inequity aversion, On order invariant aggregation functionals, Prospect theory for continuous distributions: a preference foundation, Comparing three ways to update Choquet beliefs, Search and Knightian uncertainty, A simplified axiomatic approach to ambiguity aversion, CEU preferences and dynamic consistency, Betting on Machina's reflection example: An experiment on ambiguity, Competence effects for choices involving gains and losses, The value of a statistical life under ambiguity aversion, Strategic games with security and potential level players, Reconciling Savage's and Luce's modeling of uncertainty: the best of both worlds, A new integral for capacities, Piecewise additivity for non-expected utility, A theory of subjective compound lotteries, A behavioral foundation for fuzzy measures, Under stochastic dominance Choquet-expected utility and anticipated utility are identical, Uncertainty aversion in nonprobabilistic decision models, Re-examining the law of iterated expectations for Choquet decision makers, Representation of preferences on fuzzy measures by a fuzzy integral, Preference structures and their numerical representations, On attitude polarization under Bayesian learning with non-additive beliefs, Limit laws for non-additive probabilities and their frequentist interpretation, Updating non-additive measures with fuzzy information, The participation puzzle with reference-dependent expected utility preferences, Calibrated uncertainty, A general theory of subjective mixtures, Subjective probability theory with continuous acts, An axiomatization of cumulative prospect theory, The iterative law of expectation and non-adaptive probability measure, On matrix probabilities in nonarchimedean decision theory, Information evaluation under nonadditive expected utility, Loss averse behavior, A variational model of preference under uncertainty, The likelihood method for decision under uncertainty, Laws of large numbers under model uncertainty with an application to \(m\)-dependent random variables, Introduction to the special issue in honor of Peter Wakker, Understanding the nonadditive probability decision model, Ambiguity aversion in first-price sealed-bid auctions, A theory of expected utility with nonadditive probability, Modeling attitudes towards uncertainty and risk through the use of Choquet integral, Additive representations of non-additive measures and the Choquet integral, Axioms for preferences revealing subjective uncertainty and uncertainty aversion, Two new characterizations of universal integrals on the scale \([0,1\)], Submodular financial markets with frictions, On open \((c, \epsilon)\)-balls in topological spaces that capture convergence in non-additive probability measure with probability-one coincidence, Characterizing optimism amd pessimism directly through comonotonicity, Strong limit theorems for extended independent random variables and extended negatively dependent random variables under sub-linear expectations, Probabilistic argumentation, A theory of coarse utility, Risk aversion over finite domains, The comonotonic sure-thing principle, On games under expected utility with rank dependent probabilities, Cardinal admissibility and optimability in finite nonarchimedean decision theory, Equilibrium under uncertainty with fuzzy payoff, Rank dependent utility for arbitrary consequence spaces, The Ellsberg paradox: a challenge to quantum decision theory?, General results on precise asymptotics under sub-linear expectations, On the asymptotic approximation of inverse moment under sub-linear expectations, Twofold multiprior preferences and failures of contingent reasoning, A powerful tool for analyzing concave/convex utility and weighting functions, On Hurwicz-Nash equilibria of non-Bayesian games under incomplete information, A general strong law of large numbers for non-additive probabilities and its applications, Strong law of large numbers and Chover's law of the iterated logarithm under sub-linear expectations, Individual antecedents of real options appraisal: the role of national culture and ambiguity, Ellsberg's two-color experiment, portfolio inertia and ambiguity., Endogenous ambiguity in cheap talk, Risk analysis and decision theory: a bridge, All at once! A comprehensive and tractable semi-parametric method to elicit prospect theory components, Flexibility of choice versus reduction of ambiguity, Bargaining with subjective mixtures, Decision theory with prospect interference and entanglement, Unambiguous events and dynamic Choquet preferences, A Survey of Ranking Theory, Ambiguity and the Bayesian Paradigm, Monitored heavy fuzzy measures and their role in decision making under uncertainty., Do bets reveal beliefs? A unified perspective on state-dependent utility issues, An additively separable representation in the Savage framework, Epistemic properties of knowledge hierarchies, The emergence of ``fifty-fifty probability judgments through Bayesian updating under ambiguity, Preference for safety under the Choquet model: in search of a characterization, Decomposition-integral: unifying Choquet and the concave integrals, Forecasting using belief functions: an application to marketing econometrics, On the determination of strength of belief for decision support under uncertainty. I: Generating strengths of belief., A discrete choice model when context matters, Irreversible investment and Knightian uncertainty, Non-additive beliefs and strategic equilibria, Decision making on the sole basis of statistical likelihood, Qualitative decision under uncertainty: back to expected utility, Focus theory of choice and its application to resolving the St. Petersburg, Allais, and Ellsberg paradoxes and other anomalies, Three series theorem for independent random variables under sub-linear expectations with applications, Uncertainty aversion and rationality in games of perfect information, Detection of rare events with uncertain outcomes, When a combination of convexity and continuity forces monotonicity of preferences, A simplified approach to subjective expected utility, Preferences over all random variables: incompatibility of convexity and continuity, Central limit theorem for linear processes generated by IID random variables under the sub-linear expectation, Biased Bayesian learning with an application to the risk-free rate puzzle, A strategic product for belief functions, Decision making in phantom spaces, Sharing ambiguous risks, Measurement analogies: comparisons of behavioral and physical measures, Modes of ambiguous communication, A parsimonious model of subjective life expectancy, Portfolio inertia and epsilon-contaminations, On some ordinal models for decision making under uncertainty, Decision-foundations for properties of nonadditive measures: general state spaces or general outcome spaces, Sequentially continuous non-monotonic Choquet integrals, The law of logarithm for arrays of random variables under sub-linear expectations, Choquet expectation and Peng's \(g\)-expectation, Ambiguity aversion in the small and in the large for weighted linear utility, Subjective expected utility with non-additive probabilities on finite state spaces, Equilibrium under uncertainty with Sugeno payoff, Lindeberg's central limit theorems for martingale like sequences under sub-linear expectations, A quantum-probabilistic paradigm: non-consequential reasoning and state dependence in investment choice, Another form of Chover's law of the iterated logarithm under sub-linear expectations, Subjective utility with upper and lower probabilities on finite states, Savage for dummies and experts, On the robustness of indeterminacy in subjective probability, Conditional preferences and updating., The sure-thing principle and the comonotonic sure-thing principle: An axiomatic analysis, Symmetric, coherent, Choquet capacities, Options traders exhibit subadditive decision weights, Comparing ambiguous urns with different sizes, Generalized entropy and model uncertainty, Complete convergence for arrays of rowwise END random variables and its statistical applications under sub-linear expectations, Ambiguous games, Extension of the strong law of large numbers for capacities, Decision-making with belief functions: a review, Coherent lower previsions and Choquet integrals, Subjective probability and stochastic independence, Desirability relations in Savage's model of decision making, Coherent odds and subjective probability, Strategic complements, substitutes, and Ambiguity: the implications for public goods., Expected utility with lower probabilities, Implied trees in illiquid markets: A Choquet pricing approach, Fuzzy measures and asset prices: accounting for information ambiguity, GENERALIZED COMONOTONICALLY ADDITIVE OPERATORS: REPRESENTATIONS BY CHOQUET INTEGRALS, One-Shot Decision Theory: A Fundamental Alternative for Decision Under Uncertainty, Complete convergence and strong law of large numbers for arrays of random variables under sublinear expectations, Complete convergence for weighted sums of negatively dependent random variables under the sub-linear expectations, Complete and complete moment convergence for weighted sums of arrays of rowwise negatively dependent random variables under the sub-linear expectations, Strong laws of large numbers for weighted sums of extended negatively dependent random variables under sub-linear expectations, Decisions under risk and uncertainty: A survey of recent developments, NOTE ON STRONG LAW OF LARGE NUMBER UNDER SUB-LINEAR EXPECTATION, Capacity inequalities and strong laws for \(m\)-widely acceptable random variables under sub-linear expectations, Games in possibility capacities with payoff expressed by fuzzy integral, Subjective expected utility through stochastic independence, Complete moment convergence for ND random variables under the sub-linear expectations, Acting on belief functions, Ellsberg meets Keynes at an urn, Source and rank-dependent utility, Strong limit theorems of weighted sums for extended negatively dependent random variables under sub-linear expectations, Equivalent conditions of complete convergence and Marcinkiewicz-Zygmund-type strong law of large numbers for i.i.d. sequences under sub-linear expectations, Complete and Complete Integral Convergence for Arrays of Rowwise Extended Negatively Dependent Random Variables under Sublinear Expectations, The sure-thing principle, Balanced capacities, Minimax identity with robust utility functional for a nonconcave utility, Maxmin expected utility in Savage's framework, Nonparametric estimation of trend for stochastic processes driven by \(G\)-Brownian motion with small noise, Conjoint Axiomatization of the Choquet Integral for Heterogeneous Product Sets, Equilibria for games in idempotent measures, Advances in Prospect Theory: Cumulative Representation of Uncertainty, Unnamed Item, Unnamed Item, Comonotonic proper scoring rules to measure ambiguity and subjective beliefs, A complete convergence theorem for weighted sums under the sub-linear expectations, On the characterization of certain similarly ordered super-additive functionals, Decision-theoretic foundations of qualitative possibility theory, Cumulative prospect theory and imprecise risk, EVIDENCE THEORY: A MATHEMATICAL FRAMEWORK FOR UNPREDICTABLE HYPOTHESES, Nonmonotonic Choquet integrals, Production under uncertainty and choice under uncertainty in the emergence of generalized expected utility theory, MATHEMATICAL STRUCTURE OF QUANTUM DECISION THEORY, Do Bayesians Learn Their Way Out of Ambiguity?, A life-cycle model with ambiguous survival beliefs, Games of incomplete information: a framework based on belief functions, Games of incomplete information: a framework based on belief functions, Stochastic dominance with nonadditive probabilities, On complete convergence for extended independent random variables under sub-linear expectations, ON THE POSSIBILISTIC DECISION MODEL: FROM DECISION UNDER UNCERTAINTY TO CASE-BASED DECISION, Complete convergence and complete moment convergence for negatively dependent random variables under sub-linear expectations, Risk-adjusted credibility premiums using distorted probabilities, Complete convergence for arrays of row-wise ND random variables under sub-linear expectations



Cites Work