Unbounded Utility for Savage's “Foundations of Statistics,” and Other Models

DOI10.1287/MOOR.18.2.446zbMATH Open0797.90007OpenAlexW2157536817MaRDI QIDQ5287992FDOQ5287992

Authors: Peter P. Wakker 

Publication date: 5 August 1993

Published in: Mathematics of Operations Research (Search for Journal in Brave)

Full work available at URL: http://repub.eur.nl/pub/23200

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zbMATH Keywords

uncertaintydecision theorydecision making under riskintegral representationsunbounded utilitysubjective expected utility functionaltruncation continuity

Mathematics Subject Classification ID

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

Cited In (38)

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• Preferences over rich sets of random variables: on the incompatibility of convexity and semicontinuity in measure
• A theoretical foundation of ambiguity measurement
• Characterization of stationary preferences in a continuous time framework
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• Discounting models for outcomes over continuous time
• Simple axioms for countably additive subjective probability
• The comonotonic sure-thing principle
• Preferences over all random variables: incompatibility of convexity and continuity
• A simplified approach to subjective expected utility
• When a combination of convexity and continuity forces monotonicity of preferences
• Savage for dummies and experts
• An axiomatization of cumulative prospect theory
• Reference-dependent expected utility with incomplete preferences
• Separating marginal utility and probabilistic risk aversion
• Subjective expected lexicographic utility with infinite state sets
• Rank dependent utility for arbitrary consequence spaces
• Concave/convex weighting and utility functions for risk: a new light on classical theorems
• A powerful tool for analyzing concave/convex utility and weighting functions
• Prospect theory for continuous distributions
• Nonmonotonic Choquet integrals
• Koopmans' constant discounting for intertemporal choice: A simplification and a generalization
• A monotone model of intertemporal choice
• An Axiomatic Model of Unbounded Utility Functions
• The sure-thing principle and the comonotonic sure-thing principle: An axiomatic analysis
• Decision-foundations for properties of nonadditive measures: general state spaces or general outcome spaces
• Prospect theory for continuous distributions: a preference foundation
• Intertemporal choice with continuity constraints
• Preference for equivalent random variables: A price for unbounded utilities
• A measure of ambiguity (Knightian uncertainty)
• The likelihood method for decision under uncertainty
• A unified derivation of classical subjective expected utility models through cardinal utility
• Expected utility for decision making with subjective models
• Expected utility with uncertain probabilities theory
• Continuous linear utility for preferences on convex sets in normed real vector spaces
• On the relationship between comparisons of risk aversion of different orders
• Sequentially continuous non-monotonic Choquet integrals
• Probabilistically sophisticated rank dependent utility

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