A combination of expected utility and maxmin decision criteria

DOI10.1016/0022-2496(88)90020-XzbMath0657.90007OpenAlexW2107141643MaRDI QIDQ1111438

Itzhak Gilboa

Publication date: 1988

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

Full work available at URL: https://doi.org/10.1016/0022-2496(88)90020-x

zbMATH Keywords

expected utilityAllais paradoxlexicographic separability

Mathematics Subject Classification ID

Decision theory (91B06) Utility theory (91B16)

Related Items (20)

A simple model of cumulative prospect theory ⋮ The bounded rationality of probability distortion ⋮ Source and rank-dependent utility ⋮ Mixture independence foundations for expected utility ⋮ Extreme events and entropy: a multiple quantile utility model ⋮ Optimal similarity judgments in intertemporal choice (and beyond) ⋮ The certainty effect and boundary effects with transformed probabilities ⋮ Security and potential level preferences with thresholds ⋮ Choice under uncertainty with the best and worst in mind: Neo-additive capacities ⋮ Recent developments in modeling preferences: Uncertainty and ambiguity ⋮ Security level, potential level, expected utility: a three-criteria decision model under risk ⋮ Additive representations on rank-ordered sets. II: The topological approach ⋮ New models of decision under uncertainty: an interpretative essay ⋮ Strategic games with security and potential level players ⋮ Deciding under Ignorance: In Search of Meaningful Extensions of the Hurwicz Criterion to Decision Trees ⋮ Worst-case expected utility ⋮ Piecewise additivity for non-expected utility ⋮ A measurement of the certainty effect ⋮ Choice under risk with certainty and potential effects: a general axiomatic model ⋮ Bayes and Hurwicz without Bernoulli

Cites Work

• An axiomatic characterization of preferences under uncertainty: Weakening the independence axiom
• Expected utility with purely subjective non-additive probabilities
• Decision-Making in the Presence of Risk
• Subjective Probability and Expected Utility without Additivity
• "Expected Utility" Analysis without the Independence Axiom
• Prospect Theory: An Analysis of Decision under Risk
• Integral Representation Without Additivity
• The Dual Theory of Choice under Risk
• Le Comportement de l'Homme Rationnel devant le Risque: Critique des Postulats et Axiomes de l'Ecole Americaine
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